Posted by strikeout26 on 12/5/2017 9:28:00 PM (view original):
Posted by bad_luck on 12/5/2017 9:06:00 PM (view original):
Posted by strikeout26 on 12/5/2017 8:52:00 PM (view original):
Posted by bad_luck on 12/5/2017 8:34:00 PM (view original):
Posted by moy23 on 12/5/2017 8:11:00 PM (view original):
Posted by bad_luck on 12/5/2017 7:36:00 PM (view original):
And, if we're going to discuss what caused the recession, the only thing that "forced" banks to give loans to people that couldn't afford those loans was capitalism.
Banks certainly took advantage of sub-prime.... but then again greenspan kept the rates low... and consumers signed the biggest loan they will ever take in their lives without actually thinking it through....
Everyone is at fault... and there is one word to sum it up...
GREED.
I recall that I couldn't ride the train into the city without hearing people talking about flipping real estate at the time... it was insane. No matter where I went it was all the talk.
I’m not saying individuals getting the loans weren’t also to blame. But they also didn’t get a huge bailout like the banks did.
Yep, I hate bailouts. People talk about how disastrous it would be for the global economy without them, but I think the economy would recover. Let them fail. Because of the bailouts we're starting to see loans being handed out like candy again. It's a recipe for disaster. It's notable that I am extreme. I am totally against debt of any kind.
That is extreme. Almost no businesses would exist without debt.
See, I disagree. I think with more emphasis put on savings and slower, safer growth they would, but I am not going to judge those who have debt. I just choose not to have it.
Debt is a tool. If you wanted to start virtually any non-micro business right now, you’d need that tool.
If you ran an existing business and had an opportunity to grow significantly, you’d be a fool to pass out of fear of debt.
And, if you ran the government and found yourself in a recession caused by a lack of demand, you’d have to take on debt for the good of the people, like Reagan and Obama did.