Quote:
Originally Posted by Cobra4B
One bit of clarification.... this recession was caused by the real estate bubble....
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That's rather tough to say.
The banks going bankrupt probably came first, and caused the housing bubble to crash. When you quit lending money, people quickly quit buying.
The bottom line is when people quit paying the banks, the banks go dry, nothing more effectively happens after that, stagnant.
No matter, it's the the same thing no matter the root cause, the "money" being traded simply does not exist....Obama thinks he can create it, but he cannot.
