Quote:
Originally Posted by PBzeer
Now I'm confused again. Seems the root problem of the present financial difficulties is bad loans. I read that from the left, the right and the center. Seems to be pretty much agreed on (shoot, even Rick agrees). So who can explain to my why it's Bush's fault or the fault of deregulation, that lenders made all of these bad loans?
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My thought on this is that after at least a thousand years of economic boom and bust cycles we should pretty well realize that there are going to be boom and bust cycles.
Credit expansion begets credit contraction. That's just how it is.
To everything there is a season ...