What Went Wrong With The Economy

[mystieus]

Run time: 02:10 https://www.youtube.com/watch?v=cC-g22167Zs   Posted on YouTube: February 18, 2010 By YouTube Member: Views on YouTube: 0   Posted on DU: February 19, 2010 By DU Member: mystieus Views on DU: 796

 
Dean Baker explains in basic terms why the economy collapsed.

[HeresyLives]

1. Cough...the whole world is in a financial crisis.

It has nothing to do with the American housing market

[tabatha]

2. It was the American financial games

that affected the whole world.

[HeresyLives]

3. Americans didn't start it or cause it.

What makes you think Americans are the only ones who play financial games?

[DeSwiss]

4. The housing market per se.....

...didn't cause the current problem in and of itself. I was manipulated by certain factions (who reside mainly on Wall Street) and it was the manipulation (Ponzi Scheme = Sub-prime Loan Bond Bundles + Credit Default Swaps), that is what then later caused the problems we now see.

- The housing market was the most convenient, and the likely tool that was used. This time.


K&R

[tabatha]

6. +1000

[tabatha]

5. The facts.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x7750257

[tabatha]

8. more proof

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x519364

[Uncle Joe]

7. I can sum it up in three words.

"Bush vs Gore."

The felonious five enabled a corrupt, incompetent, puppet to the most powerful job in the land, overturning the will of the people; who chose brilliance, greatness and integrity.

Thanks for the thread, mystieus.