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http://www.thedenverchannel.com/mone...95/detail.html
Worst in years! Slumps starts when Dems take over! Quick, raise the minimum wage again!! |
#2
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If you will examine the economic performance under democrativ vs
republican administrations from 1900 to the present, you will find that the economy faired much better under democratic than under republican administrations. Also, if you will look at the rise and fall of world powers since the industrial revolution, you will find the economies with major concemtrations of wealth stagnated, while those whose wealth was less concentrated thrived. The current slump is caused by a meltdown in the housing market that was fueled by irresponsible lending practices, advocated and supported by the current administration's laissez-faire policies toward America's financial industry. When the enormous deficits being racked up by the Republican administration to finance a war while cutting taxes to the wealthiest 10 percent of the nation resulted in a significant increase in interest rates, the people with subprime and zero-equity mortgages got caught short. Foreclosures and forced sales, as well as tightening requirement for new mortgages caused the housing bubble to deflate. At least it is deflating gently for now. "Bob Crantz" wrote in message ... http://www.thedenverchannel.com/mone...95/detail.html Worst in years! Slumps starts when Dems take over! Quick, raise the minimum wage again!! |
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