![]() ![]() ![]() ![]() On platforms that enforce case-sensitivity example and Example are not the same locations.įor addon domains, the file must be in public_html//example/Example/ and the names are case-sensitive. Notice that the CaSe is important in this example. In this example the file must be in public_html/example/Example/ Cleaning up the damage to the political system from President Bush's unprecedented fear campaign may prove to be even more difficult.When you get a 404 error be sure to check the URL that you are attempting to use in your browser.This tells the server what resource it should attempt to request. Repairing the damage caused by this bubble will be a long and difficult process. The collapse of the housing bubble, while falling short of the magnitude of the Great Depression, is likely to lead to the worst recession since the second world war. It is especially disturbing that Secretary Paulson personally profited from these policies, earning millions of dollars in compensation from Goldman Sachs during his years there as its chief executive. This led to the huge over-leveraging of financial institutions, which has vastly complicated the country's economic policies. The Bush administration made the crisis even worse by deregulating Wall Street. While competent economists were warning of the bubble and the dire consequences of its collapse, the top officials in the Bush administration were celebrating the rise in homeownership rates. It is the collapse of this bubble - which has already destroyed more than $4tn in housing wealth, and is likely to destroy another $4tn over the next year - that is at the root of the economy's problems. ![]() First and foremost, the decision of Paulson and Bernanke (and previously Alan Greenspan) to ignore the housing bubble, allowed for the growth of an $8tn bubble, which is now collapsing. This effort to promote panic is especially striking since the country's dire economic situation is almost entirely the result of the Bush administration's policy failures. Millions of people have changed their behaviour because of this fear, with many pulling money out of bank and money market accounts, and adjusting their financial plans in other ways. The scare tactics of President Bush, Henry Paulson, the Treasury secretary, and Ben Bernanke, chairman of the Federal Reserve, created sufficient panic, so that by the time of the first vote on the emergency package in Congress, much of the public believed that the defeat of the bail-out may actually have had serious consequences for the economy. President Bush must surely understand, as all economists know, that the daily swings in the stock market are driven by mass psychology and have almost nothing to do with the underlying strength in the economy. It was even more irresponsible for President Bush to seize on the decline in the stock market five days later as evidence that his bailout was needed for the economy. ![]()
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