The real crisis

[Lenc]

Yes a topic about that economic crap happening all over the globe. I am surprissed i didnt find a topic about it here. Even though your all spammers i found that some very great disscussions flow here sometimes.

Anyway the crisis. Who is to blame? what can we do? how has it affected you if it has effected you.

I dont know about your countries, but here it seem no matter what measurement they take its market keeps going down >_>. Not that it affects us much because other countries are far worse of. I havent noticed much in my wallet except somethings have become cheaper and other expensive. I personaly believe it one big scam for some greater evil plot we are not aware of, but then again I always see an evil plot in anything.

What i see happening is that more and more is being natiolist to prevent its fall. That means more and more falls in hands of the goverment (basic communisme/sociallism right there) that means that communism/sociallism at least was right at some points.

Also I am amazed how long this crisis is taking. At first I was like OH FUCK NO... and now I am like /care really

Also read somewhere that china practicly OWNS the US

Anyway Discuss.

ps i have never been a grammar whore so excuse me for that.

[EverPhoenix]

im not usually one to delve into political/economic matters, and since this is not affecting my life in any noticeable way (i still have my job, things arent stupidly expensive) i havent looked very far into this.

here in australia we do seem a bit isolated from it, although we have had a few of the effects such as a stockmarket crash and all the 'times are tough etc etc' speeches

but judging at least by the stockmarket, everything is slowly (very slowly) easing back into place

if i come off as completely ignorant to everything in this/other posts, it is probably because in my view sometimes not knowing enough is better than knowing too much. and i follow that view and dont look into many political matters unless they start making a notable appearance in my daily life

[Lenc]

Thats understandable, but then again it also poses a problem. If some thing was done politicly and does affect you in your life it might to late to protest it since its already done >_>

[EverPhoenix]

even if i wanted to protest, i hardly have enough standing as one person to do anything about it, and i lack the motivational skills to build up enough people who can.

so in my case if it starts affecting me ill research it and become highly aware of what and why its all happening..

[psychokind]

Who is to blame?

that's easy, here they come (in this order)

1) the american government for not listening to the european union who told them to restrict financial marketing

2) the financial corporations for wanting and offering unerealistic profit margin and not thinking of the consequenses

3) the consumers who demanded such huge profit margin and not caring about consequences

4) the worlds governments for not restricting financial marketing

5) the european union for not putting the usa under enough pressure to restrict the financial markets despite knowing what will happen in time

it's not like this was the first financial crisis. just recently a similar thing happened in japan around 1996. at least the countrys knew they had to act fast this time to prevent further damage. japan had waited too long and had to use about 25% of their gdp then, in this crisis most of the industrial nations got away with 1-3% (usa spent 300 billion dollars which was about 1%).

[Azure Phoenix]

here's an insight into how it affected me:

---bank account balance--- (if i had one)

before - £0 ( )

after - £0 ( )

now i don't know about you but i can't see much difference.

i blame the person who started economy, if we'd just learned to share things would be great right now...

[EverPhoenix]

i blame the person who started economy, if we'd just learned to share things would be great right now...

sharing assumes there is no greed in the world. since there is, there'll always be people who want and demand more than they deserve.

pretty much economy is the worst functional form of financial management we have (if that made any sense)

[Azure Phoenix]

i'm pretty sure economy IS the only form of financial management

[psychokind]

i'm pretty sure economy IS the only form of financial management

social market economy can(!) work out well too

[tay120n64]

Wow, it seems Psychokind does his research, lol. I can honestly say I don't really know that much about politics, which is something I'm trying to change. All I can hope for right now is that the new president here in America will have more concern over proper foreign policy. From what I've seen so far, he's interested in taking as many steps as possible to move our country forward. Which is good, because all things considered, America is rather behind the times.

As for how it's affected me? Well, that I've noticed, it really hasn't. At least not directly. I got a promotion, I just financed a car, and I'm getting a new apartment. But then, I'm also only 22 and just starting out my life. I imagine people who are already living theirs are the ones that are truly feeling the burn in their wallets.

[chicken]

5) the european union for not putting the usa under enough pressure to restrict the financial markets despite knowing what will happen in time

and how'd you suggest to do that?

[Lenc]

5) the european union for not putting the usa under enough pressure to restrict the financial markets despite knowing what will happen in time

and how'd you suggest to do that?

Good point because the EU has no leverage against the US... even if we had they'd be like... EY WE HELPED YOU KILL HITLER WORSHIP US. Also in economical in import and export buth the EU and US are more relient on CHina and russia(eu for gas) then eachother. If teh EU and US say Go fuck yourself no real damage would occur in a few years except for import/export companies based on US/EU transactions.

[Azure Phoenix]

5) the european union for not putting the usa under enough pressure to restrict the financial markets despite knowing what will happen in time

and how'd you suggest to do that?

he has a point (i think)

but then again i can't really say anything, i live in a country that prides itself on following america's every move......

[psychokind]

Good point because the EU has no leverage against the US...

oh you seem to be not too well informed. we have the bigger market and much better relations to russia and the arabian nations (oil / gas).

it would have been enough to forbid the highly-risk-shit on our markets and the usa would have had to follow. I don't think the wallstreet can bear all european capital messing around with no rules.
but we were, like the usa, too greedy. the gaps in the law which allowed the financial crisis to happen brought in about 10 times as much money as it costs now in the usa (7000$ billions over the years). it wasn't that much in europe, because we have some more rules, but still enough.

therefore the usa are now facing their next financial crisis. on an average every american has about 8000$ of liabilities because of mishandling with credit-cards (srsly, what are you guys doing over there?!). nobody is speaking about it since nobody wants to spread distrust again, but this might be the biggest task obama has to solve now. I mean, what will happen if the banks can't uphold this level of credit for the american population? the market in the usa is so big because they consume so much, and imagine the money runs out for huge parts of the populace...

[Lenc]

I find credit cards retarded anyway... why pay something with money you dont have and have to pay a intrest rate on ... that can be as high as 20%!