Are the republicans to blame for the stock market crash of 2008?

Answer 1

hopefully I can help... The Stock Market woes go well beyond the demonized figure of the GOP that has been characterized over the last few years.

1. The fall has seen it's hits that included a stressed American deficit due to funds that once topped over $50 million spent per week in Iraq (that's more than what is spent on cancer research in a single year).

2. Rising gas prices due to oil speculation and the inability of the US to avoid the heavy handed rule of OPEC by becoming more energy independent played a huge role in slowing our pockets.

3. The real estate market had a bubble that burst and sprayed most of the American dream. Unfortunately, most of us WERE living within our means but the other portion of Americans that were either negligent, overoptimistic, or gullible.

4. Real estate markets, of course, put a shotgun effect through our "strong" fundamentals, taking out banks and credit industries along the way who failed to have anyone check up on just what the Hell was happening in the real estate biz. Call it the worst presidency efficiency to date but sadly, the Congress and Senate, backed by the all supreme Nancy Pelosi had their own approval rating of around 14% (ataway to suck at your job, government paid officials!). The best plan in DC at the time was to blame the other guy even though Barney Frank and his CEO lover were right at ground zero when this real estate bomb went off, and likely could have credited the few who did warn us on the matter before it hit.

5. Millions of other cogs were at work as well: Hurricane Ike reminded wall street of the inescapable flood damage to come. Grass and forest fires off and on in one of the most economically bewildered states in America -not to mention overtaxed and overpriced- led by Arnold the great was disheartening as well. Basically, If you walk down Wall Street and cough the wrong way, you have effected the stock market.

6. Once problems arose, nervous short term traders pulled out altogether (or jumped in too soon and lost a lo of free cash) as long term investors waited till the last minute to see their stock prices go down down down when they should have sold sold sold. If you keep an investment stock for 12 months, you avoid a capital gains tax of 15% of what you make and depending on the situation, avoid the tax man a little more in April. Let's see, 15% tax or 40% loss by sitting on your hands and not freeing up money for the market which in turn, made the money in the market disappear. Then again, who would by stock in Fannie Mae when it dropped from $30 to 40 cents a share?

7. The value of the American dollar dropped, as an outcome of all of the combined and then some.

Could we have avoided it? Possible. Should we have imposed more regulations on wayward companies? That doesn't promote free capitalism but two major companies, one in India, the other under the direction of Madoff do come to mind.

Would dropping out of Iraq been a better idea? Good question. Ask a Marine. Iraqis have been liberated from the ruthless slaughtering hand of Saddam. Over 400 WMD's, including a mobile-nuclear project and mustard gas were found but were never reported for two reasons. 1. WMD's must meet a killing capacity requirement set by the UN before it is considered a weapon of mass destruction, anything under that limit is considered a backyard explosive. 2. The scare of militant Muslims in Iraq would create a second McCarthyism where we would in a panic deny the rights of nonmilitant Muslims who are peaceful and rightful US citizens. These things were not reported, as ordered by the President, so that America would be saved from itself.

Does the American presence in the Middle East serve a purpose? Yes. Insurgents, who for the most part are not Iraqi but rather Egyptian, Iranian, Syrian and so on, were being paid $3,500 to be funneled into Iraq to shoot at American soldiers (women are paid $9,000, all in oil money). So we could have a Professional Shoot Out with Militant Islam in someone else's backyard, or on a highjacked plane right in front of your doorstep. Sounds absurd, I know, but President Obama is a perfect example of one who decided, after receiving the proper info, that maybe jumping ship in the Middle East would have to be sidelined because of the influence we must maintain there.

Are the Republicans to blame or is it that things just suck for everyone? The administration should have been able to prevent such a historical calamity, correct? On the other hand, hindsight is always 20/20. You make the call.

-MIKE

...and may God bless the next man wiling to carry such a heavy burden on his back. When there is an economic downturn and no one is your friend, it's a zero or hero, chump or champ position behind that desk.

Answer 2

nope

Answer 3

Yes