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+--- Thread: why did housing prices begin to fall at the same time as the stock market in 2001? (/thread-51553.html)
why did housing prices begin to fall at the same time as the stock market in 2001? - ! - 12-16-2012 06:53 AM
why several companies were "collapsing" a well as Home market?
what was happpening and which percentage of people lost most of their money or how much of it?
was 2001 or 2002 the time when most were selling their homes as quickly as they could and WHY?
was this same in Britain as well as USA? why again?
how US stock market affects british economy as well?
thansk for your answers!
- voicelessdrum390 - 12-16-2012 07:01 AM
because we had bush as president. He did us 8 years of no good stuff in office so that would explain our terrible mess.
- Net Advisorâ„¢ - 12-16-2012 07:01 AM
I pretty much covered this in your other question here:
http://answers.yahoo.com/question/index?qid=20100924174015AAoOMv3
If one follows the liberal agenda who love to blame everyone but themselves, then you will have a variety of misinformed answers.
Here are some facts. Check the history.
1. The economy was moving in recession from the .com Bust of 2000. Bush had nothing to do with that.
2. The economy was already going into recession BEFORE Bush took office.
3. Despite the conspiracy theorists, Bush did not cause 9/11. I did research on the history of U.S. INTEL and International Terrorism in college and subsequently wrote a senior research report on this. My conclusion looking back based on what I have found in history does not support this conspiracy theory.
4. Bush errors included not fully financing Iraq and Afgan. However, under the U.S. Constitution, the President has a Constitutional DUTY to uphold and protect the country. This means we can go into debt if this is necessary. However I would agree using hindsight, this may have not been the best idea going into Iraq and Afgan.
At that time I felt that using GROUND troops was not the best strategy. I preferred more distance fighting (air and sea campaign) which worked in the beginning until we sent ground troops in.
5. At the time (9/11), America was unanimously united to go after the bad guys at all cost, and so we did.
6. I cited data here regarding the positive impact the Bush tax cuts had in America.
http://www.netadvisor.org/government-policy/economy/economic-crack-risk-to-the-u-s-economy/
(please see Table 3)
7. In the USA, people were not selling homes in mass in 2001-2001. Again, real estate was a growing market post .com Bust with record low interest rates.
8. Could not even begin to guess how many people made or lost in the stock or housing market, but it was far greater in 2008-2009+ than it was in 2001-2002.
9. During the Great Depression government created giant social welfare programs which account for 1/2 the annual budget and much of our deficit. This was also not caused by Bush.
10. The gov also raised taxes in the Depression which made matters worse and we stayed in Depression until WWII. The current Administration is doing the exact same thing as they did in the Great Depression (aka Health Care & higher taxes).
Further reading:
"Explain how and why the present financial crisis started in the USA?"
http://answers.yahoo.com/question/index?qid=20100221220438AAc0Lkj&r=w#BaN_M2D0AnhGUqjJm65y