"iBoaterer" wrote in message
...

Romney wants to go back to the GWB economics tactic of giving tax
breaks
to the rich. Now, when Bush did that, it led to an economic crash
heard
around the world. So, why would the same tactic garner different
results
this time?

Insanity: doing the same thing over and over again and expecting
different results.

----------------------------------------------------

The Bush tax cuts did not cause an economic crash heard around the
world. In fact the economy was doing quite well up through 2007 and
early 2008 despite the spending on two wars, etc.

The crash was ignited by the housing boom and their inflated values
collapsing. The rest of the economy followed suit. People were
caught with their pants down with declining values, deferred payment
interest only loans, balloon loans and all kinds of fuzzy logic
financing. The latest get-rich-quick scheme for many was
house-flipping. It had to end.

There were some early warnings to those who happened to be paying
attention for one reason or another. I am no economist by any means
but when we sold the houses we had in Florida back in 2004, the annual
rate of appreciation on housing values was running at 28% in the area
we were in.
Anybody with a lick of common sense knew that increasing values like
that could never last. We sold just before the market began to tank
down there. The house we sold for $10k short of a million is
currently for sale for $450k OBO.

Think what you will of GWB, but the overinflated housing market with
artificially high values was going to burst regardless of who was in
the Whitehouse.