Quote:
Originally Posted by DTK
The reason it didn't crush Canada's economy is that CA didn't have direct exposure to the bullshit that was happening here. The subprime risk exposure was right here in the US. Canada's banks never jumped into the Festival of Fraud, thus they stayed fairly stable while we burned to the ground.
|
Right, because it's illegal for Canadian banks to dish out $200k mortgages with no deposit based on leverage to people who work at KFC.
Again, it's totally up to who's writing the laws. You can't solely blame Bush, but his administration was very much for the philosophy of deregulation, which created this mess. Obama on the other hand is the opposite side of the spectrum, so I have no problem with him being in power for another 4 years.
People bitch, but like it or not, the US economy is on the incline. Maybe not as fast as people would like, but it is headed in the right direction. Besides, when you wipe out the world's largest economies' manufacturing industry, it's going to hurt, and isn't going to resolve itself in a few months.
I'm happy with Obama in there, and hope the economy and middle class continue growing. The larger the US middle class = more customers for me.
__________________
xMarkPro -- Ultimate Blog Network Management
Streamline your marketing operations. Centralize management of domains, pages, Wordpress blogs, sponsors, link codes, media items, sales and traffic statistics, plus more!