Income inequality helped cause the crash

[Claudette]

Yup. According to Barney Frank they were in great shape.

Oversite my ass.

 

[naturegirl]

The Guardian UK is telling us what's wrong with our country?? Perhaps they really need to look at what's going on in Europe first. LOL

 

[CrusaderFrank]

The Guardian UK is telling us what's wrong with our country?? Perhaps they really need to look at what's going on in Europe first. LOL

They want us to emulate that Progressive bastion of income equality: North Korea

 

[Dont Taz Me Bro]

There is no such thing as income equality

Oh, there most certainly is, it just results in everyone being poor and miserable.

 

[Immanuel]

There is no such thing as income equality

Oh, there most certainly is, it just results in everyone being poor and miserable.

Right, the progressive idea of Utopia.

Immie

 

[francoHFW]

jeebus what a bunch of stupid Pub dupe a-holes LOL

 

[CrusaderFrank]

I love it when people who don't even know what Fannie and Freddie are or what they do try to lecture me on housing finance

 

[Liability]

How income inequality contributed to the Great Recession | Till van Treeck | Comment is free | guardian.co.uk

What's the "cure" then, you imbecile?

 

[francoHFW]

Fair tax system, financial regulation (done), no more lying, cheating, pander to the rich and cronies Pubs like W and his clone Romney.

 

[LeftofLeft]

How income inequality contributed to the Great Recession | Till van Treeck | Comment is free | guardian.co.uk

The ultimate income inequality is when a limited wealthy elite exists and there is no room for upward mobility. SEE Europe.

 

[francoHFW]

We have worse inequality and upward mobility than almost any EU country. They have good education and fair taxation. Did you miss the last 30 years of Pubcrappe, dupe? See sig, and change the channel.

 

[CrusaderFrank]

We have worse inequality and upward mobility than almost any EU country. They have good education and fair taxation. Did you miss the last 30 years of Pubcrappe, dupe? See sig, and change the channel.

You sound like a fucking retard

 

[francoHFW]

I love it when people who don't even know what Fannie and Freddie are or what they do try to lecture me on housing finance

Sure, dittohead- you believe ALL Pubcrappe without question, and appear to know nothing about the real world. And thanks for the Depression. The party out of power and F+F did not cause ANYTHING, dupe.

 

[rdean]

They are wrong. Dishonesty, corruption, carelessness, and pride caused the recession.

Which also led to income inequality. Isn't that the point of "Dishonesty and corruption"?
Carelessness is when Republicans believe what they imagine their leaders are saying and their white pride helps create their racism.

If Republicans actually listened to their leaders, I suspect except for white, many wouldn't vote. At least not for those presidential nominees. They were jokes.

 

[CrusaderFrank]

They are wrong. Dishonesty, corruption, carelessness, and pride caused the recession.

Which also led to income inequality. Isn't that the point of "Dishonesty and corruption"?
Carelessness is when Republicans believe what they imagine their leaders are saying and their white pride helps create their racism.

If Republicans actually listened to their leaders, I suspect except for white, many wouldn't vote. At least not for those presidential nominees. They were jokes.

Move to North Korea for real income equality

 

[francoHFW]

so brainwashed...

 

[CrusaderFrank]

I love it when people who don't even know what Fannie and Freddie are or what they do try to lecture me on housing finance

Sure, dittohead- you believe ALL Pubcrappe without question, and appear to know nothing about the real world. And thanks for the Depression. The party out of power and F+F did not cause ANYTHING, dupe.

Do you even know what F/F are?

 

[Avatar4321]

jeebus what a bunch of stupid Pub dupe a-holes LOL

Thats a compliment coming from you, my friend.

 

[Toro]

I think income inequality, like many things, helped fuel the Financial Crisis. But it only played a minor part. Many other factors were more important.

 

[Clementine]

From the article:

The idea that the Great Recession of 2008 may have been caused not just by careless banking but also social inequality is currently all the rage among macroeconomists.

Much of the impetus for the current debate stems from the widely discussed 2010 book Fault Lines, written by Raghuram Rajan, a former chief economist of the International Monetary Fund. Rajan argues that many lower- and middle-class consumers in the United States have reacted to the stagnation of their real incomes since the early 1980s by reducing saving and increasing debt. This has temporarily kept private consumption and thus aggregate demand and employment high, but also contributed to the creation of the credit bubble which eventually burst.

Yup 30 years of voodoo adds 273% to the richest's wealth, screws the non rich and the country. The dupes and the non rich borrow to keep up the dream. The super Pub morons then destroy the financial markets. (and the stupidest wars ever)...

Total greed and incompetence. And you morons want to do it AGAIN. PFFFFFT!

Income stagnation caused them to stop saving money and spending more? Well, when they act like liberal politicians, what the hell did they expect?

People were going in debt because they wanted everything right now. People got in over their heads and banks, led by Fannie and Freddie, were ready to offer up the rope so people could voluntarity hang themselves. There were programs pushed by liberals and people were told they should have their own home. The Clinton administration revived Carter's Community Reinvestment Act and told banks no more denying credt to the lowest income or risky consumers. Some people walked into banks and walked out with a mortgage because of the no-docs loans.

It was the have-to-have-it-all now attitude. Just because banks made it easier doesn't mean the people bear no responsibility. Whatever happened to making do with what you have till you've worked long enough and saved enough money to step up to a nicer home?