I’m going to go out on a limb and venture that George W. Bush did not plan all of this, and doesn’t comprehend why this is all happening.
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I think Bush and most of the other high-level financial executives and policy makers knew what was going to happen…even to the extent that this was all by design.
Too many actions that permitted the credit bubble to grow the way it did — legislative, fiscal, etc. policies that literally drove the credit bubble higher. IMHO, the long-term goal was to extract wealth from the system and then default on our debt via currency crisis.
I knew Bernanke was going to be the next Fed chairman when Bush took him on as an economic advisor. He was specifically chosen because of his extensive research on the Great Depression, IMHO.
The credit bubble was no accident. Many people were trying to warn the respective regulators and policy makers, and were rebuffed at every turn.
