Quote:
Originally Posted by Nilan8888
Nonsense.
It's Obama's fault.
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I heard an economist on the CBC saying according to research, after every major spike in oil prices, that had been maintained for a couple of years or more, there has been a major recession to follow...he went on to say that most world economies where retracting or stagnant 9 months before the wall street meltdown...so according to him, the combination of massive job losses to developing countries, coupled with trillions of dollars leaving most countries for oil, caused the mess we are now in....now this runs contrary to what the vast majority of people "in the know" believe.... so is the current theory a case of "easy answers....for simple minds"...after all America would not have had so much toxic debt, had they not been spending fortunes on energy, while losing hundreds of thousands of high paying manufacturing jobs to china.....if this is the case, then Obama's pending spree, is
the very worst thing that could be done...now I'm not saying that this is exactly what happened, however I thought it was a very interesting and possible scenario,however, even if it where correct, I'm sure all the Lefties will still blame everything on the perils of capitalism