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How could we have avoided this latest economic slowdown?

As the slowdown spreading across the worldwide economy continues to bite deeper into each and every country many people are starting to ask what could have been done differently, how could we have avoided these troubles and more importantly who is to blame?

The fact is that we are all to blame in a small way because we as consumers led the credit based spending spree, we pushed house prices to levels which were unsafe and we kept on spending even when the signs of trouble were there. While government around the world also need to take their share of the blame it was not as if they handed money to us on a plate, they did not force feed us but they did lose control of regulations and the cost of living.

Bashing the politicians has become something of a popular pastime over the last few months but we all really need to take a closer look at our own finances. Did we spend too much? Did we save too little? Did we really do enough to stop the rise and rise of house prices?

The truth is that we are all to blame in our own separate way but the worrying thing is that we would all likely do it over again given half the chance!

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