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Financial meltdown

Discussion in 'Electronic Design' started by JosephKK, Nov 20, 2008.

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  1. JosephKK

    JosephKK Guest

    Take a peek at this if this works:

    Blame Cheap money-Asian savings-Greedy banker-Deregulation (a prime
    suspect) for 2008 crash-A short history of modern finance-E
     
  2. Guest

    Actually, I think we can blame 30+ years of becoming way too
    comfortable with debt. The lesson out of the Great Depression was
    "Don't borrow". That lesson was lost by the 1980's. and by 2000 it
    was out of control.

    Both this and the great Depression came on the back of excess credit
    cycles. These excessive credit cycles result in massive misallocation
    of resourses, build up far too many obligations that cannot be
    fulfilled and reward millions of non-producers along the way.

    This can only be fixed with a big attitude shift about money and the
    idea that we can have things today based upon future earnings rather
    than based upon past earings.
     
  3. MooseFET

    MooseFET Guest

    Also you need to make things of value to make an economy that really
    works. You can't have everyone buying selling stuff. Somebody needs
    to be making the stuff that gets bought and sold.
     
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