What caused the downturn in the U.S. economy?

[From which type of websites should companies block employee access?]

From which type of websites should companies block employee access?
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Total Voters: 24

[ysNoi]

Hi Guest, what do you think caused the downturn in the U.S. economy? 

I prefer "Banks approving high-risk mortgages", how about you?

[keng_113]

Greed! Actually hindi lang sa US sa buong mundo!

[richardcoolite]

madami daw mga house mortgage ang di na nabarayan ng mga nagloan i guest one of it would be that kasi as i read the news malalaking loan yun di nabayaran sa mga banks and for sure madami pang ibang reason one possibilities na rin siguro is that some big group don't like the administration right now ... as they say "let america be run by a real american"

[mikeer2002ph]

overall greed of the american elite

[dismarked]

tiwala sa namahala ng governo nila, it happen to as when erap was the president in our country some investor umalis dahil takot sila maginvest, same in US siya yong pina ka una black american president, matagal na awayan sa history ng american between the white and black american konsider kasi nila na slave dati yang mga black, nabago lang yan yong iwan kong sino president ng US gawa ng batas na patas na black and white american.
hindi kasi ako maniwala bank involve in this dahil sa economic crisis, yong banko kasi pinapaikot lang nila yong pera to earn interest, kaso paano nila yang ma paikot kong wala ng investor? walang bumili ng stock nila.

[malakaayo]

people spending/borrowing more than what they could realistically earn given a period of time...

it all comes down to greed...

[Angelina]

ask our x pres... our economy doing great si clinton pa president then  nag follow ang isa and bother other country kaya dami na utang.. you know what i mean.. no further explanation..

[dhiching03]

share ko lang..topic from our company.

QUESTION: So, how did those other institutions get in trouble?

ANSWER: Today's crisis underscores the fact that there are two ways financial institutions can fail. They can fail due to capital insolvency, or because they are liquidity insolvent. What many of those institutions are experiencing now is a lack of liquidity, not a lack of capital. Capital remains strong -- strong for investment banks as well as for commercial banks and thrifts. The liquidity crisis that we have seen on Wall Street comes from a crisis of confidence. In the 1930s, before deposit insurance, banks failed because of a crisis of confidence that led to liquidity insolvency. That can also happen to an investment "bank" such as Bear Stearns. There is a crisis of confidence, lending lines are pulled, liquidity evaporates and insolvency is inevitable.

[draw_paintatoms]

This might be offtopic but please let me share.

I might agree with greed. And it starts with banking and finance. This we would like to give credit to Mayer Amschel Rothschild and the rest of his family..the "true rulers of this world".

They are the masters of a clique of banking monopoly that causes two World wars for their profit and then getting most if not all countries in debt to the lending Central Banks which they technically own. They even can exercise control over a nations policy and its monetary systems.

This might be just a conspiracy theory but one can search the web with these keywords: Mayer Amschel Rothschild, Bilderberg group.

And you might also look up and read The Grand Chessboard by Zbigniew Brzezinski the ex-United States National Security Advisor to know how much America would spend for its interests in Eurasia.

As you go along, these historical facts which are being hidden from the common society are connected, and you would know how world affairs (even each one of us) are being so controlled by the few.

[mikeer2002ph]

just to add to draw_paintatoms' "off topic" segue

its all related to engels and marx's idea of the bourgeoisie (elite) and the proletariat (commoners) and the solution of communism vis a vis socialism (which broke down in the former soviet union by the way) but still very much alive in scandanavian countries and some european countries (norway, sweden, france, finland, denmark)

the bourgeoisie may be few had money and in order to protect their interest it either had to make more money (very hard to do at that time) or manipulate parties in order to keep the status quo (easier to do with the same effect = make more money)

the proletariat even if its the majority still have needs and wants and alas, most of the needs and wants are controlled by the bourgeoisie

to wit:

Banks = even if proletariat works for them, who gets the lion's share of the profits: bourgeoisie

Telecommunications = same thing, and its even monitored by intelligence agencies exactly not just to deter wannabee terrorist but to a more closer truth = to keep the status quo

Utilities (power, water,fuel) = same thing. there's even a cartel called the OPEC that dictate at what price the oil needs to be sold

Housing = even if you own the land (developed by the bourgeoisie) , the price you paid for it is astronomical as compared on the track of that land that they paid the lowly farmer to whom originally owned it.

Obviously in order to get that sum of money to buy the land, you need to 'borrow' money from the bank and if you are not able to pay, then the bank reposesses it .. then the cycle continues

Government = you think you vote for who is right? think again! good leaders either get assasinated, coerced or manipulated so the status quo remains in favor of the bourgeoisie


sounds familiar? you bet.

in the end its a class war between the haves and have-nots


fast forward to the 21st century we have the bourgeoisie (G8 countries = first world) and the proletariats (the rest of the world = semi industrialized and 3rd world countries)

there was actually a forbes' analysis of a billionaire (lets get one closest to our hearts = bill gates) his personal wealth is though to be around the GDP and GNP of at least 20 african nations all languishing in poverty, famine and civil war so as to keep the status quo.

why?
so the lifestyle of the rich and famous can continue in first world countries

most of the diamonds that end up with tiffany or at bulgari come from africa (conflict diamonds) its also controlled by a single entity (does de beers sound familiar?)

most of the tantalum used in low esr and metal capacitors found from mp3 players to PSPs/PS3s and high end motherboards (Asus Republic of Gamers and MSI Diamond and Platinum owners take a bow) come from africa (the capacitors are made in china, but the raw material in making these capacitors - the tantalum powder to make these capacitiors are from africa)

silicon used by intel, amd, nvidia, ati for chips (found in processors/GPUs which now rivals platinum and gold for price per ounce) also from africa

even your cup of joe from starbucks (except the one here in the philippines that uses local varieties) majority comes from africa (another entity is latin america = also 3rd world)

chocolates are nice, but didnt you know that the cacao beans that are roasted and ground to make chocolate powder comes from africa?

and our favorite = the BPO boom (call centers, contact centers and what have you) their HQ is in 1st world countries, but who takes the call and gets to be the punching bag of that arrogant caller? you and me! and we are where? in a 3rd world country! havent you noticed that they started getting rid of call centers in 1st world countries because aside from its expensive, they are legally protected by their own laws to talk back to an arrogant caller, unlike us here where laws are grey and money talks.


and yes, books usually have conveniently hidden the truth from the commoners unless you really dig deep enough


if you notice, raw materials and services to make life liveable and comfy for the bourgeoisie all comes from 3rd world countries


so folks, the internet is your friend = RESEARCH and know the truth! its just a few clicks and links away