Rigby5
Diamond Member
And with that, the world's economy goes into free fall and then we have darkness.What I can't understand is why these people want to make our country like every other country of their desire instead of just moving to one of those glorious places. The problem is there is only one USA. Once they F this place up by turning into all the others, there is no other USA to move to after we realize our mistake.
Exactly. Look at our economy today and look at Europe. When the housing bubble burst under Bush, it sparked off a world downturn. Well.....the economy is doing great today, and what goes on in Socialist countries has little to no impact on us.
No, the sequence of events was that Bush borrowed trillions in deficit spending, which essentially dried up world wide credit sources, while devaluing the US dollar as the main world currency used for things like world wide oil purchases.
So it did not at all start with the housing bubble, and in fact is was not a housing bubble, but just normal growth in housing.
It was the Bush deficit spending that destroyed an otherwise healthy real estate market, and plummeted the whole world into a recession.
We seemed to do well at the short term while Bush was burying us in debt as well, because deficit spending problems surface years later. Trump is also spending at a deficit. That is not a sustainable strategy, and can only produce very short term growth. It always results in a massive recession if you continue it too long.
The economy is not doing great, and is just barely being propped up with deficit spending.
If we do not balance the budget, cut military spending, and reinvest in infrastructure like steel, consumer electronics, alternative energy, etc., we don't have a chance of surviving, and will become 3rd world.