Conusmer Confidence at 16 Year Low
http://www.reuters.com/article/newsOne/idUSN2433847420080624
It is not by mistake that twice under Republican financial and political leadership, the US economy is in shambles. Republicans point to the tax exemption for primary home sale profits enacted under Clinton as the culprit. Yet, on closer examination, we see that absurdly low interest rates coupled with loan ’securitization’ schemes and continued dependence on foreign oil as the real contributing factors to a struggling economy. Artificially low interest rates, combined with high government debt translates directly into over supply of US currency (i.e. printing so much it becomes worthless), to the inevitable devaluation of the dollar. Securitization schemes proliferated as the government turned its back on monitoring, regulating and enforcing laws in banking and mortgage industries. The bomb-first, ask questions later GOP approach to world politics has all but guaranteed the highest possible prices for foreign oil while undermining America’s global fight against political conservative extremism and its resultant terrorist activities geared towards intimidating women and harming secular interests.
As energy and food prices soar, non-staple expendable income for American’s is at historic lows. Can Democrats fix the mess, or are they just as much to blame as the Republicans? If Democrats don’t own up to their part in creating the mess, how can we trust them to clean it up???
Tags: consumer confidence, Money, Politics
