This is Everything I Have to Say About How This Crisis Came About!
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For those pointing to a single, recent cause of the present crisis, I insist that Fools take a longer view here. A crisis of this magnitude is not built out of a single moment or a single action; nor can it be attributed to a single political party. Rather, the present crisis is the result of the end of a regulatory regime born out of the 1930s in the aftermath of the 1st Great Depression, and facilitated by the finite memory span of successive generations.
Judging by the words of Thomas Jefferson quoted below, this is not the first time America has
doomed itself to repeating history:
"I place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared. To preserve our independence, we must not let our rulers load us with perpetual debt.
Thomas Jefferson, third US president, architect and author (1743-1826)