I believe it is a combination of:
1. Financial institutions taking high risks for profit over sound choices & no strong oversight of these financial institutions (thanks to both the Republicans & Democrats)
2. US automakers relying on gas guzzling trucks/SUVs & being unable to produce small cars at a profit
3. Bailing out #1 & #2 (supported by both Republicans & Democrats)
4. Fighting a war without the funding required & then cutting taxes
5. An American public which consumes at a greater rate than most countries & doing it on credit
6. The belief that every American deserves what ever he/she wants at the absolute lowest price possible
7. The belief that every American is entitled to the highest possible salary
8. Items 6 & 7 lead to an America that cannot produce everything it consumes & a China that can
9. The belief that every American that wants to be a home owner should own a house
10. Companies that overpay executives & treat their employees poorly
11. Stockholders (that would be us) who want high returns on our investments and empower said compaines & executives
12. Management
13. Unions
14. Management vs. Unions
15. Companies & individuals who complain that it's too hard to change _________ (any number of things)
16. Living exclusively for today without any regard for tomorrow & those that will bare the financial burden
17. A failure to learn from our past mistakes
Just my opinion.
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