Sure there has. George W. Bush was the main architect of America's financial problems. You decided to blow up Iraq because that damn idiot wanted to. Amazing how he and his cronies fooled the whole nation. How much money was spent anyways overrunning that country ? To be quite blunt, instead of attending the World Series, the man should be charged with war crimes. World history is full of super powers that ruined themselves when they overstepped their rights and got big heads. America still has a chance to salvage itself, but only by cooperating with the rest of the world. ps Everytime I see some idiot on here make fun of Canada I am reminded why America has economic issues, a poor educational system, and overpriced badly designed health care. Greed rules the roost and it has to change. 1% of Americans control 99% of your wealth; poverty rates are ridiculous for a first world country.
preemptive nationalization could be in the cards whether some of you want it or not: http://www.elitetrader.com/vb/showt...erpage=30&highlight=wealth reset&pagenumber=1
Bush mishandeled every aspect of US operations and caused a lot of suffering, unecessarily. He is the absolute worst pres. in my lifetime. It will take years to recover from this modern day Nero.
You guys are, as a practical matter, asking the Fed to enforce a more or less fixed exchange rate for the dollar against the rest of the world, when our competitive position we know is not good from our current account deficit, and we're in the process of working off a ton of bad debt. Either the Fed devalues the dollar gradually, which is basically what they're doing, or it remains at some set unrealistic level for a while, and then goes down a lot in a short space of time. The latter is painful, the former not so much. The US can either face reality now or it can face it later, for a greater price. Ditto for the UK and the eurozone. I saw a presentation the other day from a well-known international economist, a non-ideological sort, who said Frankfurt would have reality forced on it, since they had a history of reacting too late to whatever was coming up throughout this crisis, which is what I've been saying repeatedly on here. Being a day late and a dollar (or euro) short, like Trichet has been all along, is just stupid.