how greed led to the global economic crisis (& insurance ponzi scams etc)

[CIA182]

Unfortunatly, these peopel who say "Liberalism" is to blame are not completely wrong. In fact 144 is not wrong either. This goes back way farther than the real estate crisis or the recession. In short: I think there is alot of evidence to suggest it goes back to people's PTSD of the Great Depression, not wanting to repeat it, and therefore creating inefficient social programmes as a safe guard. the inefficiency of these speak for themselves, i don't care what party or which way you lean.Cheers.

[144jr144]

@CIA182

In 1989, Japanese markets began a decline that has lasted over 20 years now. In 1999, the UK topped. The US topped later, according to many measures. Anyone who looks at the global shift as only national is missing the basics.

I forecast economic trends and by forecasting those, I also forecast political trends. Economic trends mean "values." I do not just mean exchange rates or prices but cultural values like morality. Values change. I use economics to predict all of that.

[jepst41]

Liberalism can ignore reality, but it can't ignore the results of ignoring reality.

[jepst41]

The real estate crisis was caused by liberalism. "Social justice" drove the real estate bubble. When the Democrats took over Congress in 2006, they pressured Fannie Mae and Freddie Mac to mandate that 55% of all mortgages be given to people below the median income! Since a lot of those people don't qualify, Fannie and Freddie removed the qualification. They discounted human nature. It blew up in their faces. Lucky for them, GWB was at the helm.

[144jr144]

@jepst41

Thanks for your reply. As one of many who forecast the real estate decline, I may have been watching for it earlier than you. 1st, it was not specific to the US. 2nd, in the US, it began in mid-2005 in the sprawling desert metro areas of Phoenix and Las Vegas. Why? I assert that the rising price of energy was the primary economic factor, such that as monthly summer electricity bills in Phoenix passed $300, $400, & $500, that reversed the boom. Also, HGX peaked in '05. Do you know HGX?

[jepst41]

@144jr144 Yeah, I did.  I left real estate in 2005. I was, at the time, a neural net modeler, with a PhD in Mathematics & Statistics. Now I've gone into traditional IT. I make more money, and I don't have to uproot my family every time I want to change jobs. Looking forward to more of your videos!

[ChucksterJax]

@jepst41 "Lucky for them, GWB was at the helm." Glad you pointed that out. You don't have to look any further than YouTube.

Search for the video "Home Ownership and President Bush"