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To: VU4G10; wildbill; Psycho_Bunny; BitWielder1; RitaOK; dalereed; Revolting cat!; PSYCHO-FREEP; ...
To those who chose to laugh: If you can read a graph, you can stop now!

Read more: Rick Santorum Is Right: Gas Prices Caused the Great Recession (theatlantic.com)

As the more thoughtful poster stated, it may have not been the gas can, but it certainly was the match!

47 posted on 02/27/2012 4:09:33 PM PST by drpix
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To: drpix
Gas reaching 4.00 did not CAUSE the Great Recession. Endless speculation of property values by every tom, dick, & harry caused the Housing bubble.

1. Everyone was buying land & homes for ridiculous price. It did not matter if you could afford them or not. Undeveloped farmland in the middle of nowhere was bringing 8k to 10k per acre ten times what you would normally expect to pay.

2. Everybody, Bankers included believed we were in a state of Nirvana property values would never go down.

3. Homes were being used as every ones on personal ATM. There was no reason to pay down or pay extra there was better thing to the spend money on.

The Housing bubble would have burst even if Gas had been given away for free.

IMHO

58 posted on 02/27/2012 6:45:06 PM PST by Bailee (Vote Newt the Pitt bull we need.)
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