Discussion in 'Economy' started by CrusaderFrank, Oct 13, 2009.
Bad as it was 9/11 never caused a flight from the US dollar.
I'm not even gonna vote in that poll.
How about option 3: The Federal Reserve and Fractional Reserve Banking.
Id Rep ya again if I could.
You missed Bush too
The politicians bear some responsibility but only a fraction of what the Fed does.
Politicians sold out to the Fed almost 100 years ago, That action is now finally bearing its bitter fruit.
so this guy is supposed to be a nut?
[ame=http://www.youtube.com/watch?v=ji_G0MqAqq8]YouTube - Ron Paul on Federal Reserve, banking and economy[/ame]
Euro in United States Dollar - Google Finance
Constant upward trend for the Euro against the dollar with only a small break as investors "flew to safety" in the darkest days of the meltdown.
The reason we are in this economic DISASTER is because of GOVERNMENT.
Their handeling of Fannie/Freddie is what has brought us to this economic collapse--in which our government decided it would be a great idea to co-sign our names to 50% of the mortgages in this country while lowering lending standards & incorporating sub-prime mortgages. All banking & wall street bail-outs lead right back to the failure of Fannie/Freddie.
Fannie Mae Eases Credit To Aid Mortgage Lending - The New York Times
This is what your government has done to you. Now YOU get to fix it. Not only YOU but your children & grandchildren.
As far as this congress & Obama--they believe that throwing trillions of YOUR dollars at the problem will fix this. This of course leads to very expensive massive government expansion & all the while the private sector is SHRINKING.
"The problem with socialism is that government eventually runs out of other peoples money to spend" Margaret Thatcher
This is a canard. Fannie and Freddie had little to do with the melt-down.
If they did, then the home prices that would have shot up the most would have been those that were GSE qualifying mortgages. In fact, those homes went up the least. It was the homes financed by mortgages that did not qualify for GSE backing that went up the most. It is simple supply/demand economics.
As for subprime, at the very height of the bubble, the GSEs accounted for something like less than 10% of all subprime mortgages written during the year, and even less for Alt-A. All the subprime mortgages underwritten by Freddie and Fannie were something like 0.1% of the entire mortgage market. Subprime was a creation of private mortgage underwriters who dominated the market and had nothing to do with the GSEs.
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