Bush is one of the best presidents Iran has ever had.
Why not blame him. A good leader would not have ignored the problem.
I am not blaming the president Bush for people's financial malinvestments. If you lost money to financial crisis, then that is your fault. I am blaming him for the economic meltdown.
In 2001 there was a small crisis. The response of the politicians was to reduce interest rates from 5-6% to 1% and implement tax cuts. They wanted to make the crisis as small as possible. That was a really bad idea and only worked short term. The new liquidity caused property prices to skyrocket. In fact a lot of people bought expensive properties, because they expected property prices to keep rising.
That was mistake #1. By 2005 it was very clear what is happening and it did not look pretty. Even Alan Greenspan realized US had a problem and started to increase interest rates. At that time Bush could have gone out and said we are risking an economic crisis and we need to do something. Instead he totally ignored the whole problem and just hoped it won't crash under his presidency. It was his responsibility to lead the US, and he failed.
I am not blaming the president Bush for people's financial malinvestments. If you lost money to financial crisis, then that is your fault. I am blaming him for the economic meltdown.
In 2001 there was a small crisis. The response of the politicians was to reduce interest rates from 5-6% to 1% and implement tax cuts. They wanted to make the crisis as small as possible. That was a really bad idea and only worked short term. The new liquidity caused property prices to skyrocket. In fact a lot of people bought expensive properties, because they expected property prices to keep rising.
That was mistake #1. By 2005 it was very clear what is happening and it did not look pretty. Even Alan Greenspan realized US had a problem and started to increase interest rates. At that time Bush could have gone out and said we are risking an economic crisis and we need to do something. Instead he totally ignored the whole problem and just hoped it won't crash under his presidency. It was his responsibility to lead the US, and he failed.
You won't since you are ignoring HIS WORDS, try reading.
Actually you are....and it is REALLY frigging weird that I have to point this out
Support for the chart? The chart shows the housing price bubble.....are you questioning that there was a housing price bubble?
OK, you are confirming that you did not know we had a housing price bubble....because....you need the supporting evidence.
I am not blaming the president Bush for people's financial malinvestments. If you lost money to financial crisis, then that is your fault. I am blaming him for the economic meltdown.
In 2001 there was a small crisis. The response of the politicians was to reduce interest rates from 5-6% to 1% and implement tax cuts. They wanted to make the crisis as small as possible. That was a really bad idea and only worked short term. The new liquidity caused property prices to skyrocket. In fact a lot of people bought expensive properties, because they expected property prices to keep rising.
That was mistake #1. By 2005 it was very clear what is happening and it did not look pretty. Even Alan Greenspan realized US had a problem and started to increase interest rates. At that time Bush could have gone out and said we are risking an economic crisis and we need to do something. Instead he totally ignored the whole problem and just hoped it won't crash under his presidency. It was his responsibility to lead the US, and he failed.
