What do you think caused the recession??

Jewish ideologies? lol?

I vote we rename rz30 to Neo-Nazi so his true colours are on display. Or ocuk just ban the idiot.
 
magick said:
First watch the documentary and then come back to me.
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It is three and a half hours long, very poor quality and probably full of suposition and made up "facts". Any chance of a quick summary and how it ties in to your belief in a reptillian run illuminati preparing for a new world order?
 
RDM said:
It is three and a half hours long, very poor quality and probably full of suposition and made up "facts". Any chance of a quick summary and how it ties in to your belief in a reptillian run illuminati preparing for a new world order?
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It's a history of modern banking and rise of privately owned central banks. No mention of reptilians or the illuminati though there is a chapter on the rise of the Rothschilds.
 
Society, and the materialism of modern society.
In the old days poor people would live within their means however little they had and be happy. However in recent years poor people felt they were entitled to all the trappings of modern life, mortgages, cars, large TVs with associated satellite/cable TV subscription, smartphones and their contracts, all of which they couldn't afford and were able to put it on credit to worry about at a later date. Unfortunately that later date came.

It was (and still is) a viscous circle, consumers shouldn't rely so heavily on credit and banks shouldn't give out loans willy-nilly. To blame one or the other is short sighted as both groups are to blame, they both feed each other.

Governments bailed out the banks and financial trust nose dived which affected the markets. Governments being financially exposed started to make cuts and tax increases to get their books into the black again, stupid people then blame the government for this when in fact the people are to blame.
 
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In short. Systemic monetary problems. Fiat currencies. Fractional Reserve banking. Lack of currency competition. The government removing risk from the financial sector by guaranteeing mortgage loans. This caused a lot of bad credit. The financial institutions and regulation bodies were complicit. By repackaging and selling bad loans. This created a lot of toxic debt in the system. Then the central banks/governments made it worse by bailing them out. Which further removed risk and compounded the problem and only delayed it.
 
  • The Jews.
  • Space lizards.
  • Freemasons.
  • Illuminati.
  • The Orange Order.
  • The Ancient Order of Hibernians.
  • Gordon Brown.
  • Paris Hilton.
  • Rebecca Black.
  • Justin Beiber.
  • Thumbs up this comment
  • if dongs
  • herp le derp.

They're all in on it.
 
Corruption pretty much.

Compare the outcome from the Savings and Loans crisis in the US, 800 financial executives went to prison.
I don't think anyone (as yet) has gone to prison for the current crisis.

There seems to be an acceptance at all levels that ignorance (and stupidity) are a defence. It's not, and the people taking the risks should be made to pay.
 
A mass failure to regulate the system, essentially. Some of that was widely foreseeable, some of it wasn't. Essentially, people failed to listen to the lessons of history, and absurdly believed that there would never be another recession. Gordon Brown's "no more boom and bust" being the absolute poster boy.

We'd have had a recession sooner or later, anyway, but without the incompetence of governance allowing widespread rampaging by the bankers it would have been nowhere near as bad.
 
groen said:
Everyone is not too blame, what a load of BS.
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How is it BS?

The governments are to blame due to lack of regulation, and our government in particular for running up a debt during one of the longest sustained booms which left us in a bad position should the worst happen.

The ratings agencies are to blame, for rating CDO's as AAA without really being able to know what was 'inside' them.

The banks were to blame for being greedy, and for being dumb enough to package up and sell bad debt as CDO's whilst buying CDO's off other banks that were quite obviously doing exactly the same thing, they knew they were buying bad debt which is the really stupid part.

The people, it's not like the banks forced people to take on loans and mortgages that they couldn't afford, but people did, 125% of a houses value at 10x your income, that sounds like a good deal right?

Everyone is to blame, some were hit harder than others, hell the BoE dropping interest rates through the floor to save idiotic home owners from repossession has cost savers some £43billion.

Scary bit is that it's not over yet, the eurozone countries are being propped up by a wing and a prayer, the states is only 'ok' due to the dollar being the reserve currency, and luckily we're just being ignored in the face of the others, for now.
 
mrk1@1 said:
the more pertinent question is can we avoid future recessions using the lessons learned from this one?
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No. What we can do is avoid the kind of failure that happened this time, and mitigate the extent of future recessions. Primary things to learn would be: don't run a frickin' budget deficit when your economy is booming.
 
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