Why the Economic Turndown?
A common sense explanation of why the economy has slowed down.
How did we get into the economic crisis? If you ask me it is really pretty simple…
- People got loans for things they could not afford…
- People got more loans for more things they could not afford, and the government helped them do it…
- Gas prices began to rise, budgets began to tighten…
- Prices on everything began to go up to compensate for the high gas prices…
- Companies begin to lay off people to compensate for high gas prices and slower business…
- People can no longer pay their mortgages that they couldn’t afford in the first place…
And they wonder why we are in an economic slump?
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