I just love listening to Team Red and Blue continue to blame each other for everything. The chart below confirms the responsibility. The answer: they all participated and we did too by accepting "the credit". Remember "no interest loans"? Zero percent financing? 4% mortgage refinance?
While Bush I was held back by Sir Greenspan, he wanted to print as much as the others. This curve is looking outrageously steep too!
|True Money Supply (Source: Agora Capital)|