True. The theory is that with globalization, peaks and troughs will be further reaching around the world but they should be "shallower". Of course, the current situation is the result of many additional factors. It's all about global north nations. Global south nations are too far behind.

If there's one thing the US needs right now it's a new administration.

AL

That's right, Messiah will save us...

Well, somebody has to. We all know the current administration isn't doing it.

That's right, Barney Frank and his Acorn Brown Shirts will surely do it trick - the people who caused the housing collapse which spilled over into the rest of the economy will now save us from it, brilliant.

I’m all for giving “The One” a chance to prove himself however, the blame goes to both sides of this equation not just one.

Put your faith in Obama, Pelosi, Reid, Waxman, Rangel, Daschle, et al. and you may find yourself, and the rest of the country (insanely rich liberals not included), curled up in the fetal position and crying for Mommy in a few short months.

Have you looked around lately? I think we're already there.

What a bunch of CRAP. The current administration, just like Reagan, has spent more money and ran up more national debt than any so called tax and spend liberal democrat since WW2. Just the facts, ma'am. On whose watch did this market collapse happen?

I thought Congress controlled the purse strings. Its been a Democrat congress for the last two years.

Not true. Check out the spending of LBJ. Look at the economy under Carter.
And. per my earlier post, Congress controls the spending, not the pres. Its been a Dem congress since '06. Looks like they're the ones "under whose watch" this happened.

Just the facts.

And the segue from Bastian on oil prices to Congress continues............