Shallow, generalized pablum and no real answer to my question.2008? As a result of that Glass-Steagall revocation and the promotion of Fannie Mae and Freddy Mac, the housing bubble had burst.
Nobody was on the road and buying stuff to create inflation. Gas got up to $4.26/gal here, though.
Travel was reduced to necessary only, and no frivolous spending going on at all.
Almost no subcontractor vehicles on the road at all then. Mr. "Economonomist".
Brings back all the sad life stories I heard and saw 1st hand how people got laid off and lost their houses and all kinds of stuff.
The banks made out swimmingly, though. Now they're the biggest landlords in the nation. Isn't that swell?
If you want to play this game, play it with someone who isn't far more experienced and educated on this issue than you.