Thursday, February 21, 2008

The situation in the early 2000's got more and more outrageous

The leftist media that operated internationally had succeeded in discrediting fighting Islamic extremism and had discredited business and free enterprise in general. In the American election of 2008, the Democratic candidates were ready to implement Herbert Hoover's economic policy. They would put up protective trade barriers and tariffs against foreign imports and raise taxes on successful companies and people. These were just the thing that would topple the world economy into depression, if implemented. Already, the bubble had burst on the American housing market. As early as 2001, thinking people wondered how long the bubble would last. In a few markets, the bubble never formed, but in places like California and Minnesota, housing prices became highly inflated. When the bubble finally burst in 2007, the air came out of the market quickly. The first casualty was the credit industry, which had followed the direction of liberal government and had loaned money without regard to credit history. "The rest is history", as they say.

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