How The U.S. Government Engineered The Current Economic Crisis
How The U.S. Government Engineered The Current Economic Crisis
Take the current housing crisis that has now spread to the financial markets in general. The cause was too-easy credit that fueled a massive increase in housing prices as people bought houses they couldn’t afford with mortgages they weren’t able to pay off.
Don’t you just love blanket statements? The whole thing was caused by one thing. That’s like saying World War I was caused by the assassination of Archduke Ferdinand, or whatever his name was or that the US Civil War was only about slavery. Rarely is there ever just one thing that causes crises of this magnitude. They happen due to a whole confluence of events, big and small, coming together to create the perfect storm.
Seriously, what about the war? Or oil prices? Or Al Qaeda? What about people’s own greed in always having to have the next big thing?
October 1st, 2008 at 7:53 am
It’s difficult to understand the thought process behind these blanket statements. Obviously there is more to the current credit crisis is based from the housing crisis but there are many other variables as well. I think these are the same people who see the world in black and white.