"Goomba" > wrote in message
...
> blake murphy wrote:
> foreclosures
>> have skyrocketed. yep, it's all in our heads...
>>
>> blake
>
> What *exactly* did Bush have to do with mortgages again? The way I see it
> half the people having mortgage problems were people who overbought
> assuming they were going to make a killing when they flipped the house.
> Housing prices readjusted (look at California who led that trend) in many
> areas because they were just insanely overpriced. There were also
> certainly mortgage lenders who got sloppy and allowed unqualified people
> buy more home they couldn't afford which I can find fault with. Yet
> somehow I don't see how Bush (or Clinton before) as being responsible?

If you are looking for simple one line answers to complex interrelated
questions you're not going to find them. There are however some facts that
need to be considered.

1. Whether or not you agree or disagree with the war - the fact is we are
fighting this war with borrowed money, primarily from China.

2. Because of our enormous debt the dollar on an international basis has
been devalued - it simply does not purchase as much of foreign goods as it
used to.

3. The devaluation of the dollar does however make American goods less
expensive for foreigners, the hope is this will stimulate our economy. That
is if there is anything left that we make here.

4. The housing crisis can easily be explained he
http://docs.google.com/TeamPresent?d...h=true &pli=1

Click on each frame to advance.

4A. Is it the duty of the government to regulate the mortgage industry?

5. Harry Truman had a sign on his desk "the Buck Stops here"
http://www.trumanlibrary.org/buckstop.htm

6. The president is supposed to guide and lead the country. (I believe
that is what Bush and Clinton for that matter had to do with it)


--
Old Scoundrel

(AKA Dimitri)