Reply With QuoteSeems like Bush's reaction helped to patch that bubble nicely getting it all nice and ripe for the full burst effect of 2008.
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We didn't have a recession in 2001?
2001 Recession Milder
The revisions showed that the 2001 recession was less severe than originally estimated, reflecting a smaller decline in business investment. The economy actually grew 0.1 percent from the fourth quarter of 2000 to the third quarter of 2001, erasing the 0.2 percent drop previously reported.
http://www.bloomberg.com/apps/news?p...d=aNivTjr852TI
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Seems like Bush's reaction helped to patch that bubble nicely getting it all nice and ripe for the full burst effect of 2008.
Excellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but rather we have those because we have acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit.
- -- Aristotle
Believe nothing on the faith of traditions, even though they have been held in honor for many generations and in diverse places. Do not believe a thing because many people speak of it. Do not believe on the faith of the sages of the past. Do not believe what you yourself have imagined, persuading yourself that a God inspires you. Believe nothing on the sole authority of your masters and priests. After examination, believe what you yourself have tested and found to be reasonable, and conform your conduct thereto.
- -- The Buddha
It is the mark of an educated mind to be able to entertain a thought without accepting it.
- -- Aristotle
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Yeah according to the Bloomberg article the worst downturn since the Great Depression.
And worse than first thought 3rd quarter of 2008 -2.5% vs origional -.5%
Bush doubled the debt from 5 trillion to 10 trillion.
Proving tax cuts work!
Bush asked for and signed for the TARP money.
The Republican senate leader backed Bush on this.
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