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(My response - tried to be polite because I hit reply all and don't know these people. Might be able to educate.)
This economic crisis has been years in coming and everyone knows that. Sorry, but this email is full of specious reasoning. Correlation does not imply causation. In contrast, this economic downturn was not only predictable; it was predicted. Going back to the 80’s and 90’s. Many writers and politicians said after Phil Gramm - McCain’s economic adviser - pushed through the Gramm-Leach-Bliley Act, and repealed the Glass Steagall Act, that a housing crisis is inevitable. Now, making a prediction, that because of certain actions, x will happen; then x does happen– well, that is science.
There are some Democrats that helped this along, some because of greed, some because they’re cowards, but for decades the entire Republican economic philosophy has been liaise-faire. The same philosophy that caused the depression in the 30’s. And even though congress controls the purse, they gave up all their power years ago along with their oversight responsibilities. So, Bush was able to accelerate the downturn by doubling the debt, borrowing trillions from other countries, increasing world tensions with an aggressive war. (Hell, I don’t have time for a book - his screw-ups are endless.)
Lets not forget, propagandists like Limbaugh and Elders were twisting statistics to show how great the economy was just three weeks ago. They were doing that because a bad economy can be rightly traced back to the Republicans and Bush.
So, what we have now are the people who caused this mess saying things like “don’t look back, that’s the past,” or they’re trying to blame others. Great.
(And here's the email I was responding to.)
TO20ALL MY FRIENDS....LIBERAL OR CONSERVATIVE........FYI only-food for thought.
George Bush has been in office for 7 1/2 years. The first six years the Economy was fine.
A little over one year ago: 1) Consumer confidence stood at=2 0a 2 1/2 year high; 2) Regular gasoline sold for $2.19 a gallon; 3) the unemployment rate was 4.5%. 4) the DOW JONES hit a record high--14,000 + 5) American's were buying new cars, taking cruises, vacations Overseas, living large!... But American's wanted 'CHANGE'! So, in 2006 they voted in a Democratic Congress and yes--we got 'CHANGE' all right. In the PAST YEAR: 1) Consumer confidence has plummeted; 2) Gasoline is now almost $4 a gallon & climbing daily; 3) Unemployment is up t o 5.5% (a 10% increase); 4) Americans have seen their home equity drop by $12 TRILLION DOLLARS and prices still dropping; 5) 1.5% of American homes are in foreclosure. 6) THE DOW is probing another low ~~ $2.5 TRILLION DOLLARS HAS EVAPORATED FROM THEIR STOCKS, BONDS & MUTUAL FUNDS INVESTMENT PORTFOLIOS! YES, IN 2006 AMERICA VOTED FOR CHANGE...AND WE SURE GOT IT! ....
REMEMBER THE PRESIDENT HAS NO CONTROL OVER ANY OF THESE ISSUES, ONLY CONGRESS.
AND WHAT HAS CONGRESS DONE IN THE LAST TWO YEARS? ABSOLUTELY NOTHING.
NOW THE DEMOCRATIC CANDIDATE FOR PRESIDENT CLAIMS HE IS GOING TO REALLY GIVE US CHANGE ALONG WITH A DEMOCRATIC CONGRESS!!!!
JUST HOW MUCH MORE 'CHANGE' DO YOU THINK YOU CAN STAND?
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