Last edited by Public_Domain on Sat Feb 22, 2025 10:22 pm, edited 1 time in total.
PostFactum
CKA Elite
Posts: 4765
Posted: Sun May 30, 2010 2:51 am
The worsest thing is that they have no choice, this crysis is getting on all parts of planet, can't wait for it's ending moment.
martin14
CKA Uber
Posts: 33691
Posted: Sun May 30, 2010 3:17 am
Mr_Canada Mr_Canada:
This economic situation proudly brought to you by capitalists on Wall Street.
yes, Communism was so much better.
Everyone made $50 a month, and the system was soooo successful,
all countries were rushing to use it.
Public_Domain
CKA Uber
Posts: 21611
Posted: Sun May 30, 2010 3:23 am
Last edited by Public_Domain on Sat Feb 22, 2025 10:22 pm, edited 1 time in total.
KorbenDeck
Forum Elite
Posts: 1681
Posted: Sun May 30, 2010 2:39 pm
Mr_Canada Mr_Canada:
This economic situation proudly brought to you by capitalists on Wall Street.
No proudly brought to you by a bunch of idiots who borrowed money they could never repay
Proculation
CKA Super Elite
Posts: 6584
Posted: Sun May 30, 2010 2:50 pm
And from the regulations of the government to "give access to housing to everyone" that made the market prices sky rocket.
Now, the next crisis is beginning in Europe: the Keynesian economics of debt to 'get out' of a crisis.
It will come here too, thanks to Harper, Charest (Quebec, where I live), and both GWB and Obama.
Proculation
CKA Super Elite
Posts: 6584
Posted: Sun May 30, 2010 2:52 pm
Oh and don't forget the FED who tried to 'boost' the economic expansion with very low interest rates in the beginning of the 2000s.
RUEZ
CKA Uber
Posts: 15102
Posted: Sun May 30, 2010 3:21 pm
Mr_Canada Mr_Canada:
This economic situation proudly brought to you by capitalists on Wall Street.
Blame it on poor regulation, not on capitalists. Canada got through with a similar economy.
andyt
CKA Uber
Posts: 33492
Posted: Sun May 30, 2010 5:08 pm
RUEZ RUEZ:
Mr_Canada Mr_Canada:
This economic situation proudly brought to you by capitalists on Wall Street.
Blame it on poor regulation, not on capitalists. Canada got through with a similar economy.
We're not "through" either. We still have way more unemployed than before the crash, and have more and more people having to settle for McJobs instead of real work. Just an ongoing trend, until we're back to feudal times - the aristocracy and the technoserfs.
Proculation
CKA Super Elite
Posts: 6584
Posted: Sun May 30, 2010 5:12 pm
andyt andyt:
RUEZ RUEZ:
Mr_Canada Mr_Canada:
This economic situation proudly brought to you by capitalists on Wall Street.
Blame it on poor regulation, not on capitalists. Canada got through with a similar economy.
We're not "through" either. We still have way more unemployed than before the crash, and have more and more people having to settle for McJobs instead of real work. Just an ongoing trend, until we're back to feudal times - the aristocracy and the technoserfs.
Come on !
We just got out of the crisis and we are going to another one in a few months/years because of all the spending the governments made. It already began in Europe. That's not capitalism's fault at all. First crisis was created from poor regulations and the next one will be made from too much interventionism.
I've read a paper saying that it will at last bring a real capitalist society. What I think is that we are following Hayek's road to serfdom. We just miss the war.
Dragom
Forum Addict
Posts: 883
Posted: Sun May 30, 2010 8:02 pm
You take a loan against a house for 300 grand, the house drops in value to 250 grand. If you fault on the loan you only loose the house, leaving you 50 grand ahead in the game.
This recession makes perfect fiscal sense. Except for the Bankers that gave the loans. For them it was poor folly.
Only odd thing is that those banks didn't collapse.
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