My Name is JOHN LEWIS WALLACE.
POLITICAL STATEMENT
The economic prosperity that the United States enjoyed during the Clinton years was likely to have been a delayed reaction to the Reagan/Bush years(i. e., Reaganomics) according to my academic study of economics. History has shown that downturns are always going to come. Recessions came under Reagan and Bush, however, there was always a recovery. During the prosperity coinciding with the Clinton Administration, Fannie Mae, the nation's largest underwriter of home mortgages, began making "junk" loans(i. e., higher credit risk housing loans to people who did not have credit histories as good as what was normally required for a loan). Private banks working together with Fannie Mae were encouraged to do the same.
Now that an economic downturn(just a part of an economic cycle) has come, these loans are coming under default, and therefore, we have this new credit crisis which could possibly be the beginning of a "domino effect" causing further downturns in the economy.
The reason that Reaganomics(the essence of free enterprise) is not working is because we do not have true Reaganomics.
I Am Going to Give a Small Presentation About Me(mostly trips and vacations) Divided Into About Eight Categories.
1. Secluded Acres, my home in the late 1980s in South Carolina
2. Off To Seminary in South Hamilton, Massachusetts
3. Turtle lake, North Dakota(summer/fall, 1994)
4. 2004 Vacation in Buena Vista, Virginia
5. The Lewis and Clark Trail
6. 2005 Vacation to Bolivia
7. 2005 Vacation Through North Dakota
8. North Dakota Again
CONCERNED USA CITIZEN
August, 2007 photograph
Me sitting at the Kiosco Beni sidewalk cafe in Santa Cruz, Bolivia hoping to get a good cup of organic coffee(no pesticides) grown in Bolivia while I take in the slower paced life in Bolivia and enjoy such a sense of absolute freedom.
The United States of America wants to claim that it is the "freest country in the world", however, I am not sure that I am in agreement with this premise. I felt just as free in Bolivia( a country named after Simon Bolivar who is considered to be the Liberator in South America) if not moreso than here in the United States.
Conclusion of My Home Page
