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What changed at beginning of 2007 that caused gas prices to rise and the housing market to tank?

Oh right, democrats took over congress and then gas went from $2.20 to $4 and the housing market went straight to hell. What are they going to do for an encore, burn the Constitution?

Public Comments

1. You are correct. Democrat policies are the cause of this mess.
2. funny - Bush had 6 years of a rubber stamp republican congress that gave him EVERYTHING he asked for and 2 years of a do nothing democrat congress that had no veto over-ride power It's all Bush's fault
3. You tell us what did the democratic congress do? Let's play name that bill...
4. No they are going to put a muslim in charge while we are currently fighting that nation in two wars. Oh yes and remember they offered change..............Gas will be $7.50 per gallon......they said change.
5. Best I can tell, they are planning a witch hunt for republicans and others that don't agree with them
6. obama stopped farting as he wanted to fart together on Palin's face and faint her so he could hijack her and make her President of pakistan. Friends, McCain is a national hero
7. The commodities bubble and the housing bubble were both caused by poor monetary policy. The Dems didn't help and they're not my cup of tea but they weren't the proximate cause of either problem you mention.
8. The effects of the bad Republican economic policies began to surface for even the most obtuse to realize. The Democrats managed to gain control of congress because things were on a downward slide. The people who kept touting the "booming Bush economy" refused to recognize reality until it was too late, and some not even then.
9. the dems don't take blame for their own mistakes
10. The price of crude oil increased ..simple
11. Mr. No-Long-Term-Memory, Gas prices have been over $3 per gallon since around 2004. High gas prices are not a recent phenomenon. Also, the housing market collapsed because lenders made lots of bad investments in shady mortgages long before the Democrats took power in 2007. Since 2007, the Democrat-controlled Congress has been dealing with the fall out from Republican foul ups and a hostile president who vetoes most of their attempts to clean up the mess.
12. Gas prices have been on the rise since 2001, and the housing market was doing just fine under President Clinton. I bought my house in 1998 and I'm still in it. Never re-financed or took out a home equity loan. I was too smart for that!!! Now; I'm sitting back, in the comfort of my home, and feeling sorry for people who were duped in this Top-Down-House-Of-Cards market created by the Bush administration and supported by John McCain. And No! It was George Bush who has been using the U.S. Constitution as toilet paper for the past 8 years. READ THE PATRIOT ACT!!!! Obama 2008!!
13. So in 2000 when we had a recession, the repubs were in charge of the congress. Then you guys blamed it all on Clinton and the congress was held blameless. Now the shoe is on the other foot and it is all the fault of the congress and Bush is held blameless. Can you please be consistent. Oh wait, you are. You will change your story/theory as it suits you to blame the dems and the party of personal responsibility will never actually take responsibility for anything.
14. Nothing. You might want to take a look at this chart of the DOW. It kind of questions the truth of your 'question'. http://finance.yahoo.com/echarts?s=%5EDJI#symbol=%5EDJI;range=5y
15. Sweet question!