Today I’m questioning this so called global financial crisis.
How is it that the European Union needs to take similar actions against it’s economy that the US is taking. Wasn’t the Euro created to bring together the financial strength of it’s member countries? Possibly to even compete with the USD? How is it that all of a sudden other countries like the EU or Australia are also having housing market problems? Or more importantly, being pulled under by the US?
I can see how this happens in the US. Regulation (or lack of) forcing banks to provide mortgages for the less and less qualified; a majority of the population who can’t manage personal credit, let alone put a couple of dollars in the bank every once in awhile. Here we are the land of “you can buy it even if you can’t afford it”. So it’s understandable how the US is in trouble.
but how is it that other countries are now having the exact same issues? I think it’s a big puppet show, honestly. Allow markets to collapse globally, pump unimaginable amounts of rescue dollars into those markets and economies. Then when the rescue cash fails to help in least bit, the global economy grinds to a halt and nobody has a job or a house, come out with a global monetization plan pegged at the lowest common denominator.
It’s a big scam. Even here in the US, the finance gurus aren’t this stupid not to see this coming. Hello, have some requirements for credit? Credit isn’t an equal oppurtunity so much as Bob in the Burbs bought an escalade, so John in the ghetto making 20% of what Bob makes should be able to have one too! Credit is for those who have proven responsibility with money.
This crisis could have and should have been avoided, but something is really stinking around those in control.
Edacsac I think you are really getting it! I have had more or less the same thoughts, that could be reduce into one that you mentioned: �It is a big scam�
Banks & financial institutions are the same the world over, “where
will we get the next profit from?” Give mortgages to self-certification
clients who we know cannot really afford them.
“What about when they can’t pay?” No problem we will have made
our profit & be over the hills & far away. :lmao:
The sub-prime issue is not just a US issue, it is worldwide.
Wow. I hardly think that Central banks would waste their time to get together to try to fix what you guys refer to as a “scam.”
There were financial guru’s who did see this coming a long time ago like my favorite analyst John Mauldin. If you want to learn more about economics, investments, institutions, geopolitics, sign up for his newsletter “Thoughts from the Frontline.” Please google it and read… a wealth of knowledge there
Super powers flex their wings� hold the world on puppet strings…
Egos will feed� while citizen bleed�
It�s always the way it goes�
But when will the world listen to reason I�ve the feeling it�ll be long time �
When will the truth come into season I�ve the feeling it�ll be long time�
We have a $700 billion bailout package that I just learned will be overseen by a former goldman-sachs executive. The fed is dumping money into the economy as fast as it can be printed. It just looks more like a concerted effort to tear things down than it is to save or repair anything.
The bad part of that is that �mistake� is getting to other countries, the worse thing is, those countries didn�t participated in their decisions. They don�t see that in an important country the bad decisions cost a lot.
Perhaps all this economical crisis is just a �smog curtain� to manipulate several things, like the oil prices among others, and therefore probably mr Bush wanted to give unpleasant times to mr Chavez
I deduced that its a chain effect or what was normally called the ripple effect. The nations or people since years ago had been saying, “When US sneezes, the rest of the world catches a cold” I heard that even the banks are borrowing from each other so when one collapses, the rest goes down like dominoes.
By the way, what is 401k plan? Anyone know about it?
401k plan is a retirement account that you can contribute to pretax, and usually, your employer will match a certain percentage of your contributions. Then when you reach 59 1/2 you can draw on it for retirement income.