Posted on 05/19/2023 10:19:37 AM PDT by RomanSoldier19
Before the 2008 financial crisis, the U.S. led the world in economic growth. It accounted for over 1/3 of total global consumption growth. In mid-2007, U.S. household wealth hit a peak of $61.4 trillion. The average home value appreciated 124% between 1997-2006.
Overinflated confidence, consumption, and value went largely unchecked. Growth became the status quo. Though few regulators and investors noticed as it was happening, those who study history look back and see the early 2000s as a classic economic bubble, made worse by shoddy loans and deregulated banking.
(Excerpt) Read more at thestreet.com ...
Isn’t Libtardism wonderful?
Isn’t Libtardism wonderful?
~~~
Yep. And libtardism breeds more libtardism.
After all this ridiculous spending and printing of money, inflation is coming home to roost, and they need to kill the economy with higher interest rates to fight it, so the only other tool in their chest is to try to pass some more trillion dollar ‘stimulus’ packages and kick the can farther down the road and hope it reduces the quickly growing credit card debt and foreclosure phenomenon. Once the can gets too big to kick, the whole economy is going to collapse.
If you’re a flaming lefty elite, then yes! Otherwise, not really!
Hopefully the Biden Admin will step in and make huge transformations in the economy to fix all of this. [/s]
Wake me when 1200 sir ft homes are no longer half a million dollars.
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