Bear Is Full Of Bull: Analyzing the Economic Bust
By Lisa Richards
September 12, 2011
Who is to blame for the economic crisis that ensued in 2008; the people or Washington? The answer is both—borrowers and lenders who lent to those who could not repay their loans.Washington claims Americans spend too much while saving very little, but if this is true, how can Americans affect the markets when they are not in the power of lending vast sums to the public? Did not the government who borrowed and lent cause the deficit to reach $14 trillion dollars? Washington has laid the blame for economic failure at the feet of the people, claiming history is repeating itself and America is facing another Great Depression, but Washington insisted banks lend to those Americans who cannot afford to repay loans.[1]
