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Final-Fan said:
Tyrannical said:
Avinash_Tyagi said:
Incorrect
http://online.wsj.com/article/SB119205925519455321.html?mod=hpp_us_whats_news
Put your racism/class warfare away, it has no place in this discussion
Blah, blah, article dated Oct 2007 before the bottom fell out.

OF THE STOCK MARKET GENIUS (correct me if I'm wrong about what you meant)

Are you suggesting that the facts stated in that article about who had subprime mortgages were no longer true later on? 

 

 The facts in the article are obviously suspect, as it came out about a year before the bottom fell out. If the article was 100% correct, then the failure would not have been a surprise.



Yet, today, America's leaders are reenacting every folly that brought these great powers [Russia, Germany, and Japan] to ruin -- from arrogance and hubris, to assertions of global hegemony, to imperial overstretch, to trumpeting new 'crusades,' to handing out war guarantees to regions and countries where Americans have never fought before. We are piling up the kind of commitments that produced the greatest disasters of the twentieth century.
 — Pat Buchanan – A Republic, Not an Empire