The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
This is a great video that explains all this economy stuff.
On a side note, in Chicago’s Pioneer was an Obama spending protest (photos). While I’m cautiously concerned about how this money is spent, I still support it. It’s funny how people worship the market and think that the free market will solve all our problems. Uh hello. The market is what got us in this messed up place. Although one can argue it was the low-low interest rates set by the feds that started it. But it was the free market that got so entirely greedy. Giving out mortgages to reliable people wasn’t enough. They had to give out sub-prime mortgages to people who couldn’t pay it back. All because lenders and banks were making money hand-over-fist with mortgages.
That brings me to my point. The free market is what created this recession. When was the last time the government caused a recession? Is there ever such an example in American history? I’m a non-economic mind trying to wrap my brain around all this.
Did you just steal my post?! 😛
Looks like it was the other way around 😉 Sparx posted on March 2 at 7:00 AM … allegedly 😛
Written 3/1, scheduled to post at 7am on 3/2.
Also, Tom.. your comment confuses me. 😛 I like pretending he stole it.. even though I’ve seen this video on a bajillion other sites before I decided to post it myself.
I made a boo boo. Sorry. Your post, Sparx, definitely appeared first, but with many servers allowing you to post in the future, there is really no telling who wrote their post first.
For lack of a better term, there have been a boatload of recessions caused in one way or another by the government. For example, war has been a common impetus for recession over the years. I’m not very economically minded either, but I think part of the problem may stem from when the government dropped the gold standard. There’s some really good, well-organized info here: http://recession.org/history
Also, don’t take this the wrong way, but I think you’re a little misinformed. The free market is not at fault. From Webster’s Dictionary: Free market: an economic market regulated by the forces of supply and demand. I think what you meant to say was the free enterprise system, which allows some businesses to run with little govt. regulation. At any rate, this is all a part of Capitalism.
http://online.wsj.com/article/SB123561551065378405.html?mod=todays_us_opinion Wanted to add this link too! 😀 😀 😀
Wait. So lisa s, we are gonna start a 100% tax for the $250,000+ incomes. Wow. That’s crazy.
When banks return to lending, our market will be a lot better.