Quote:
Originally Posted by Mr. Blonde
Now its "us"? Make up your mind on which side of the pond your loyalties lie.
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My loyalties will always be to the US first, but this recession affects Europeans just as hard as Americans.
To Mr. Black Eyes:
First of all, the ability for politicians to affect the economy is
minimal at best! I HATE it when people blame broad economic problems on politicians, especially the President.
What I was saying is that, on the margin, Clinton had more to do with it than Bush. When I say Clinton, I mean the entire Clinton government. I honestly don't think you can point a finger at a president for this and say with a straight face "He did it!".
When I say Clinton did more, I mean that government, at the time, had the mindset that we needed to forcefeed home ownership to the masses (IE lowerclass people) who can't afford home ownership. We forcibly made getting mortgages artificially easy. That's what caused this. We artificially kept interest rates too low for too long as well...