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  LiveWire / Teen Forums / Science & Business / Viewing Topic

Economy?
Replies: 26 — Last Post Jan. 7 7:35pm by Savren
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( Anonymous )

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A little late for this but how did our economy get so fucked up in the first place?
2:45 pm on Jan. 2, 2009
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ijustdontknow

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Cause we dumb

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2:46 pm on Jan. 2, 2009 | Joined: Mar. 2008 | Days Active: 295
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akallen


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Bush was born and caused a major disturbance in the economic well-being.

Post edited at 2:46 pm on Jan. 2, 2009 by akallen

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joker678


Wealthy Hobo 		Reply
The Banks gave out loans to people who could not afford them!

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ummmmmm....    What should I say?
2:46 pm on Jan. 2, 2009 | Joined: Nov. 2007 | Days Active: 222
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Monroe


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George Bush.

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Lally


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Quote: from akallen at 5:46 pm on Jan. 2, 2009
Bush was born and caused a major disturbance in the economic well-being.


this

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2:47 pm on Jan. 2, 2009 | Joined: Dec. 2007 | Days Active: 344
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joker678


Wealthy Hobo 		Reply
Quote: from lally at 2:47 pm on Jan. 2, 2009
Quote: from akallen at 5:46 pm on Jan. 2, 2009
Bush was born and caused a major disturbance in the economic well-being.

 
this

no

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2:48 pm on Jan. 2, 2009 | Joined: Nov. 2007 | Days Active: 222
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joker678


Wealthy Hobo 		Reply
also,   we buy way to much "things" from China, and having them built there,  because it is cheap labor

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ummmmmm....    What should I say?
2:50 pm on Jan. 2, 2009 | Joined: Nov. 2007 | Days Active: 222
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byebyebeautyful


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its all with the government imposing on the banks to give out loans that were risky and now look what happened. businesses closing down, almost impossible to find a job...

its not JUST bush's fault

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lovelyshadows19


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Lots of bad, risky decisions by people surrounded in wealth not thinking how it could affect the country and everyone in it.

...That and Bush and his oil tycoon buddies probably had something to do with it too. XD

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jessicries

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Quote: from crimeinstereo at 2:47 pm on Jan. 2, 2009
George Bush.

I suppose George Bush is also the reason I couldn't find my keys this morning?? It must be a sad life hating someone enough to blame them for stuff they clearly had nothing to do with. I know you're smarter than to believe what the liberal media and other lefties spoon feed you. At least I hope you are.

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roryboy


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Anyone that ever cared to read the Constitution, knows that it is congress that has the power over the economy.

Blame them for forcing the banks, to make the bad loans in the first place.

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yankeefan


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consumption > income
housing bubble
people buying homes when they have no business owning homes
8:11 am on Jan. 3, 2009 | Joined: July 2006 | Days Active: 171
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obvious child


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Quote: from Anonymous at 12:45 pm on Jan. 2, 2009
A little late for this but how did our economy get so fucked up in the first place?

Simple answer?

Leveraged sub prime mortgages. Keyword: Leveraged. If investment banking firms had not purchased the securities with debt, they'd simply be taking large write offs and be done with it. Sure it's hurt like a mother but there wouldn't be the additional debt to be repaid. Think of it like buying a car with cash and then it gets totalled. Ouch. Now think of buying a car with debt and getting it totalled. Ouch and you still owe. (Ignore insurance) One instance no asset and no debt. The other no asset and debt.

Debt credit swaps made it worse, but that's like getting kicked when you're down.

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1:15 pm on Jan. 3, 2009 | Joined: Sep. 2005 | Days Active: 946
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Savren


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Its not just Bush's fault? Its not at ALL Bush's fault.

The fault goes to the loony liberals who pushed for loans to be given out to anyone, even those who couldn't buy it, thus causing the major housing bubble, thus making the banks go belly up and causing a chain reaction throughout our crumbling economy.

4:49 pm on Jan. 3, 2009 | Joined: Aug. 2008 | Days Active: 145
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