kazadoom said:
All you people blaming George Bush, please name one thing that he specifically has done to cause this? It is amazing to me that you think that one man has all this power. Please name one thing that he himself did specifically that caused Japan's bad market, if it really is that bad. Plus the US market other than the housing market is not bad anyway. |
Bush encouraged the Federal Reserve to print excess money to pay for the massive yearly budget deficit in America and lower interest rates. America has the problem because he cut taxes and continues to increase spending year after year. The printing of excessive money encourages the dollar to fall. The lowering of interest rates encouraged banks to lend money to more people. The falling dollar encourages oil to rise, which hurts the economy and the US stock market. I don't care to chase it to Japan but Bush's policies are even worse than Clinton's (which were also bad and hurtful). Interest rates need to go up several percent, government spending needs to massively drop, and regulations need to be reduced to fix things in America. Chances are, even doing these things, America will see a recession. America is by far the most important country in the global economy. Until recently, the US dollar was much more important than every other curreny in the world. It still is to some extent and when the Fed messes with it, problems happen on a global scale.
