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awmslave -> RE: Lowering Taxes.... beware (10/29/2008 1:33:26 PM)
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quote:
bush is beyond anything I have yet to see....he strikes me as fiscally foolish, wreckless and inept....
If you ask the question: Who benefits (?) things may look different. Bush has been irresponsible, I would even say criminal (as common law is concerned) but not "foolish". Bush inherited from Clinton-Greenspan bubble economy that was seemingly good but under the surface rotten, corrupt, debt driven and did not produce real wealth. So, he sat down with Greenspan and perfected real estate bubble and huge extra debt driven bubble in general by lowering interest rates (lending rules had been change already in 1990-es. He was a little short with time: financial pyramid scheme started collapsing before his term.
We will see what Obama (it looks he will be the next victim in even worse situation) will do if anything useful.
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