2. Disaster capitalism that completely skipped states, like Texas, that were smart enough to outlaw the Real ID Act and Patriot Act.
3. Repeat of the Great Depression that happened shortly after Herbert Hoover outlawed Mexicans in 1929 and collapsed the US banking system and stock market with widespread housing abandonment when he deported several million legal US residents that had brown skin.
4. The perfect storm where the governator mated the Patriot Act with Real ID Act to produce a love child that turned California into a third world country with DUI checkpoints that stole $40 million of cars from Mexicans ever...
It was triggered by foreclosures and a collapse of the real estate market in Florida in 2007. Fannie Mae and Freddie Mac, two large government subsidized mortgages lenders, later fell under heavy scrutiny by many members of Congress. It also created a national credit crunch that resulted in new government regulations that tightened lending standards and changed the rules for nearly every bank. All of a sudden, even people with nearly spotless credit found it hard to get a loan on anything. Wall Street stocks fell by nearly 50% in 2009.
The GR also changed the political clout in Washington when Republicans became the majority party in the House of Representatives, after the 2010 midterm elections sent many Democrats home. Things havent improved very much as the Great Recession is still ongoing and many Americans are still out of work. It will take many years for the housing market to recover, and probably longer for the jobs return to pre-recession levels.