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Ok, that chart didn't turn out well. Sorry.

@ Tyranno,
Of course we in the USA don't have Hartz lv or the 1 Euro jobs to bring down those unemployment numbers like Germany.


Indie is using that ultimate source of all primary AND factual information to those on the left - Wikipedia...


Well, my post appeared then disappeared - so I will try again.


Indie is using that source of all factual information for the left - Wikipedia...


Antonio Sosa:

Americans were misled because they chose to be. However egregious the MSM was - and it was - there was enough information out there to show the true character of Obama.

Case in point: My sister-in-law. A dear, sweet woman who was married to a black man for over 30 years until his passing 3 years ago. As you might imagine, she has no tolerance for racism. But point out Reverend Wright? "No, I just don't want to go there." That's a direct quote.

Bill Ayers? Rashid Khalidi? Chicago Annenberg Challenge? From every Obama supporter I got a response that amounted to "Well, we just have to move forward".

The media didn't blind Americans to Obama - altho they tried. Americans chose to not see.

@americanbychoice -

Dollar based loans to 3rd countries, latin America, etc. caused the largest impact.

So the so-called financial crisis in fact is a confidence crisis of the international system?

So what?

sorry for the late reply.
I don’t remember now what sources I used.
It was definitely not Wikipedia, as Suzanne suggests, since my numbers are not on there.

I think the the public debt / GDP is where our numbers were apart the most.

If I take the current total public debt of the US, which is 10,656 Billion $ on 12/09/2008 according to http://www.treasurydirect.gov/NP/BPDLogin?application=np
Then I have to divide it by the estimated total gross domestic product for 2008 of 14,334 Billion $ (http://www.imf.org/external/pubs/ft/weo/2008/02/weodata/index.aspx).
And we get an estimated public debt / GDP of 74% for the United States.
At least this is what I get from the data that is available on the internet.

I believe the Left (read: the Europeans, hehe) will be sorely disappointed in Obama. The LACK of change will awe them.

Anyone who believes "regulation" would have prevented this financial crisis doesn't understand the entire picture. The financial crisis in the US was cause by government entities Fannie Mae and Freddie Mac making home loans to risky individuals because of a Congressional (read "government") policy of trying to "increase home ownership." Basically, the government tried to increase home ownership (a positive thing) by loaning money to people that normal would not get a home loan due to risk. The people eventually could not pay back their loans and the government was left holding billions of worthless mortgages (and since the housing market had slumped, foreclosing on homes would no longer satisfy the mortgage as houses were now worth less). In some weird world, yes, regulating these government entities so that they did not loan to these risky people would have helped the situation. But if you are willing to recognize that these government agencies needed more regulation to act more like the free-market banks, then you are basically admitting that they (government entities loaning money) shouldn't be there in the first place.

In reality, however, regulation is actually not needed. If the government had simply stayed out of the market altogether and not encouraged their own federal entities to loan to risky future home-owners, none of this would have happened. Left to the free market, no bank would have made these crazy loans to people who had no business being loaned this much money. Free market banks not being ordered by the government, but rather worried about solvency and the bottom-line, would never have risked their money and would never have ended up stuck with billions of bad loans.

Here: http://pfbblog.com/?p=235

Left to the free market, without the construction of an "middle class" that would be grateful to the banks for ignoring the risks in their future, capitalism long ago would have become even more unpopular than it is now. Either way, capitalism is in crisis.

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