What is this "economic crisis" everyone is discussing?

  • Thread starter Thread starter richard m
  • Start date Start date
Basically a meltdown of the credit system. Too many home loans were written without enough equity. Eventually, housing prices started to fall, spurred by adjustable rate mortgages whose payments increased substantially and which the borrowers could no longer afford to pay. This threw a lot of foreclosed housing on the market, further depressing prices. Numerous financial institutions all over the world were holding mortgage paper, and a lot of it went bad. This eroded the banks' capital positions, so that they could no longer make loans ti anybody. Modern business is crucially dependent on credit to function, and it was necessary to inject much new liquidity into the banking system to keep business from grinding to a halt.
 
Most likely caused by the division of pay. Government jobs have cost of living and other benefits other worker are denied, it is not only an economics crisis it is the governments roll in flexing its weight over the classes of people who do not work in government jobs. Will the crises end when government owns and operates every facet of liberty. Is liberty for government only?
 
The us dollar is failing so there is plans to unite US, Mexico, and CANADA currency to something called an amero which fill mess up everyones money, go to youtube and type in amero you will see.
 
Back
Top