Sunday, March 18, 2007

Smoke and mirrors

The real estate bubble has burst, the foreclosure rate of those easy-interest refinancings and home purchases is skyrocketing, the marginal-loan industry is reeling from defaults and both interest rates and inflation are on the rise. Bush's "improving economy" was never real. It was based upon historically low interest rates that allowed Americans to borrow on their credit cards and homes at unprecedented levels--causing personal savings to dip into negative figures for the first time since the Depression.
By the time the Bush administration is driven from power the United States will be in the worst shape ever, internationally and domestically. Let's just hope we learn from this experience: That we should think before we vote.

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