[QUOTE="SoBaus"]

[QUOTE="surrealnumber5"]

i could do a book on this topic, but the two biggest reasons for the crap in the states are 1) S&L bailouts 1989 GB w/Dem congress 2) affordable housing act clinton w/Dem Congress when you take away the risk of failure and then tell banks who they need to extend credit too youre going to cause major problems, there are a myriad of other causes but those are the two biggies with the US, as for the world they invested in US real estate

surrealnumber5

So when mortgage backed securities were hot, and investors wanted more... but investment bankers couldnt find qualified applicants, so they lowered credit requirements and started giving out introductory variable loans they knew couldnt be repayed to appease demand... this was because of clinton?

The loans werent bad, assuming the housing market continued to increase.... they were only bad if the housing market declined... guess what happened.

Of course they bought up credit default swaps, and companies like AIG were more than happy to take on the risk... and we all know what happened to AIG.

i could do a book on this topic, but the two biggest reasons for the crap in the states are 1) S&L bailouts 1989 GB w/Dem congress 2) affordable housing act clinton w/Dem Congress when you take away the risk of failure and then tell banks who they need to extend credit too youre going to cause major problems, there are a myriad of other causes but those are the two biggies with the US, as for the world they invested in US real estate

surrealnumber5

So when mortgage backed securities were hot, and investors wanted more... but investment bankers couldnt find qualified applicants, so they lowered credit requirements and started giving out introductory variable loans they knew couldnt be repayed to appease demand... this was because of clinton?

Obama did itSerraph105

well that much is obvious, Obama is a muslim plant from al qaeda since birth. Donald Trump uncovered this fact in detail with the private detectives he hired that gathered massive amounts of incriminating evidence on Obama which he cant release, because hes too patriotic and it might be a blow to the country. How do you think Obama managed to kill Osama? its because thats where he was getting his marching orders from all along.

But on the less proven factual stuff, im wondering... what people actually think caused the recession...

I would normally be totally on his side, but he looks like an a-hole in his mugshot.... so now im unsure ;)

Do you think it was unregulated and overleveraged investment banks going balls deep in risky mortgage backed securities because investors were pining for more all the while hedging their bets with credit default swaps that ultimately collapsed with the dip in the housing market?

or do you think it was too much regulation because jimmy carter said banks couldnt be racist (or whatever the republicans say it is)?

its the damn "gotcha" journalism.

its the damn "gotcha" journalism.

[QUOTE="SoBaus"]

[QUOTE="BMD004"]A lot of people predicted the financial crisis. Obama did not trust the "smartest economists in the country"... because they didn't do all the right things. Here, watch this video and be amazed at the accuracy of the predictions: http://www.youtube.com/watch?v=2I0QN-FYkpwsurrealnumber5

im gonna throw down some basic knowledge, which you most likely will avoid.

First of all PREDICTIONS come BEFORE an event. The event came during Bush's presidency, so if predictions come before the event... under whos presidency did the predictions come?

This isnt a difficult question... the video you linked is labeled 2006-2007... who was president during 2006-2007?

this is all true, i belief even his father was predicting the downfall of the western world year after year.

[QUOTE="SoBaus"]

[QUOTE="BMD004"]A lot of people predicted the financial crisis. Obama did not trust the "smartest economists in the country"... because they didn't do all the right things. Here, watch this video and be amazed at the accuracy of the predictions: http://www.youtube.com/watch?v=2I0QN-FYkpwBMD004

im gonna throw down some basic knowledge, which you most likely will avoid.

First of all PREDICTIONS come BEFORE an event. The event came during Bush's presidency, so if predictions come before the event... under whos presidency did the predictions come?

This isnt a difficult question... the video you linked is labeled 2006-2007... who was president during 2006-2007?

All of obama's economist knew the housing bubble popped...

plenty of economists predicted exactly what was gonna happen, but it was under a republican leader bush... bush famously ignored advisors.

[QUOTE="SoBaus"]

[QUOTE="Mafiree"] It is not "unreasonable" to expect an economist to forecast unemployment to a +/- 2%......... And if this predictions had such a great margin of error, Obama should not have presented the results in the manner he did.BMD004

This recession was rather unprecedented.... as its being called the worst financial disaster since the great depression. Its hard to predict all the ins and outs of something like that.

What previous data did they have to go on to estimate the impact of a 700 billion dollar stimulus on an incredibly fragile economy? Obama trusted the smartest economists in the country, and the smartest economists in the country were off on their predictions.

I dont understand why this scenario is so difficult for you to accept and you assume there needs to be an elements of fraud.

Even Stephen Hawking has been wrong on his theories regarding black holes (and the many brilliant scientists that agreed with him), hes not stupid... and i wouldnt consider anyone that trusts stephen hawking to be a liar. Sometimes even incredibly smart people are wrong... its just how life works. The unnkown is never knowable, no matter how smart you are.

im gonna throw down some basic knowledge, which you most likely will avoid.

First of all PREDICTIONS come BEFORE an event. The event came during Bush's presidency, so if predictions come before the event... under whos presidency did the predictions come?

This isnt a difficult question... the video you linked is labeled 2006-2007... who was president during 2006-2007?