Quote:
Originally Posted by k0nr4d
You sure this is Trump's fault? Because this sounds alot more like the financing companies giving loans to people that can't afford them. If this is Trump's fault then you need to also say that the subprime mortgage crisis was Obama's fault.
Sometimes it's not the president. Sometimes it's just greedy bankers.
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it is because he was doing all that people take this loans
1. he did not want the interest increase
2. he told the people that they will become rich with the tax break
3. he told them that all americans will soon have a job and make much more money
4. he deregulated the banks that they can give such loans again.
the complete bubble is build on loans.
loans on houses and cars and private consumption.
it can not come from anything else because the trade balance is worse to before.
such an instrument with easy loans and low interest should not be used in a time when the economy is strong. but this is exactly what he did. and this is gonna be a huge boomerang.