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The great depression has been brought up a few times here and other places lately as a result of our current economic situation. I just wanted to point out a few things.

First, The great depression was not solely caused by a crash in the stock market. A combination of the stock market, a SEVERE drought that caused food prices to go up as well as move an abundance of people to cities leading to a surplus of labor, and a few other key factors contributed to the economic crisis of the time.

We rose out of the great depression, not because of the socialist ideas of Roosevelt (ideas were paying dearly for today) but because of an American never say die attitude, and a world war that greatly increased our industrial productivity.

The fact of the matter is we are in a market correction caused greatly by the socialist idea that just because someone has bad credit that they should be considerd for a mortgage on equal ground as someone with Good credit. BTW, bad credit means someone has a history of not repaying debt, just in case some of you liberals out there thought it was just a bad name to bestow on someone. I do believe the Great Bill Clinton, and the white Obama (aka Carter) had a WHOLE lot to do with the problems we are facing today.

Everyone talks about how it was a de-regulation that caused this, or that allowing capitalism to run rampant caused this. FACTS say that forced deregulation, forcing capitalists to play by socialist rules have caused our problems.

I could continue on with this, but I figured I'd put it out for discussion.
 

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pretty accurate post, although the investment banks, Fannie and Freddie were instigators of the activity, helped primarily by cheap money and ridiculous rates held low by Greenspan......he alone provided most of the "gas for the fire." and still the old bastard comments continuously about how to handle the mess he made......he should just keep his damn mouth shut and let Bernake handle it now.
 
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