The Current Financial Crisis, What Caused it?

Who is to blame? I want to hear all sides on this, far right and left. Again, What caused the current financial situation in America?

Well, it's been years in the making. If you're going to blame anyone, it should be George W. Bush. Thank him for funding wars on two fronts that have lasted 8 years.

doitinthewoods said:

Well, it's been years in the making. If you're going to blame anyone, it should be George W. Bush. Thank him for funding wars on two fronts that have lasted 8 years.

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Ok here is my opinion on why we are in the finacial crisis we are in

I blame the super rich. Now the super Rich is the 6% population that has most of this money in the country. It does not leave much for the rest of the population

Super Rich - invest in business

Business has to show a profit each quarter to appease the investors

Business can't keep showing profits each quarter. What do they do raise prices, layoff workers, try to cut spending

This is a snow ball effect that eventually will cause the business to not keep showing profits

Investors pull there money out of business

Now business can't stay open

He has to closed shop

This has happened time and time again

Businesses that allow investors to invest money are asking for a disaster. Trying to maintain an investor by continually showing profit

Just my opinion on the financial crisis

There is no financial crisis that couldn't be quickly cured with massive cuts in government spending and tax cuts to genuinely stimulate the economy. But if we have to blame someone I suggest Alexander Hamilton.

Illegal Smile said:

There is no financial crisis that couldn't be quickly cured with massive cuts in government spending and tax cuts to genuinely stimulate the economy. But if we have to blame someone I suggest Alexander Hamilton.

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the central bankers of the world are to blame.google the money changers and watch the video it will blow your mind.here is a link http://video.google.com/videoplay?docid=-2137117051620011430&ei=_Db4SqCiB8PNlQeVmOCbAQ&q=the+money+changers&hl=en#

Blame the govt. As soon as the govt. gets into "business" for itself... all heck breaks loose.

The govt. destroys business models and then cries when it bleeds into the private sector.

Of course if the private sector doesn't play along, it is punished by the govt.

The "too big to fail" mentality brings about MORE failure.

short term selling, sub-prime lending and poor government fiscal policy.

cheriescor3 said:

the central bankers of the world are to blame.google the money changers and watch the video it will blow your mind.here is a link http://video.google.com/videoplay?docid=-2137117051620011430&ei=_Db4SqCiB8PNlQeVmOCbAQ&q=the+money+changers&hl=en#

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Sorry but my mind cannot be blown by sophomoric conspiracy theories.

George Bush and the Republicans are to blame 100%. If it wasn't for Bush's wars there would have never been a recession. So thanks belongs to Bush and all of his sheeple for fucking up everything they touched the past 8 years.

The Federal Reserve and Government regulations are responcible.

The FED kept interest Rates to low for to long.
Over stimulating the economy.
The Government encouraged this through various regulations.
And through unfair competitive practices of Freddy and Fanny.

Thats my simple explanation.

It was indeed meddlesome government regulation and policies, the most egregious of which was social engineering as a motivation to manipulate the mortgage markets.
Disaster ensued.

Biggest single factor was artificially low interest rates, which are of course controlled by the FED. The collapse would have never happened if interest rates were controlled by evil market forces.

I'm seeing a pattern here.
The FED and government regulations.
Hmm

The government allowed, and even encouraged the actions that caused this whole mess, but plenty of blame goes to the people who spent well above their means and are failing to repay their obligations.

Illegal Smile said:

There is no financial crisis that couldn't be quickly cured with massive cuts in government spending and tax cuts to genuinely stimulate the economy. But if we have to blame someone I suggest Alexander Hamilton.

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^^^ That's the best post in the thread by far.

Here's a book I'd like to recommend:

http://www.amazon.com/dp/0880801484/?tag=googhydr-20&hvadid=3128452871&ref=pd_sl_66ecjj3msj_b

When the average household takes it's budgeting cues from the federal government and thinks it can magically spend more than it takes in shitty things are going to happen.

See that fan? See that shit? Look out!!

I see alot of finger pointing & distribution of blame on this thread...it's the banks fault, it's the government fault, etc. etc. Has anyone thought about this at all...perhaps it's your fault for buying into bullshit & propaganda & not understanding how the system works. If you've been smart & responsible with your financial situation over the years maybe your looking at all this & wondering why everyone is in a bind...the answer is disgustingly simple. Generally speaking people live their lives with WANTS being their main objective & are never satisified with having just what they NEED. Wants & Needs...for some reason people have a hard time understanding this simple concept.