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thereismore (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:14 AM Original message |
I don't buy it that a US housing bubble could cause a global recession. Something else is going on, |
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ProdigalJunkMail (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:15 AM Response to Original message |
1. the housing bubble is a part |
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BuyingThyme (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:17 AM Response to Original message |
2. Our entire economy is a fraud. |
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Sal Minella (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:45 AM Response to Reply #2 |
29. I see it as "predatory mortgage-bundling/selling thing" rather than "housing thing." |
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Vincardog (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 03:17 PM Response to Reply #29 |
59. Bingo Something exceedingly odd about bankers creating financial instruments out of thin air |
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knowbody0 (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:17 AM Response to Original message |
3. karl marx predicted this |
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ananda (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:19 AM Response to Reply #3 |
6. Boy, the Manifesto sure looks good now, doesn't it? |
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crikkett (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:30 AM Response to Reply #6 |
20. forgive my knee-jerk reaction: manifesto >>> gulag |
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Jackpine Radical (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 12:01 PM Response to Reply #20 |
35. The Soviets wre at best nominal Marxists. |
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crikkett (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 02:21 PM Response to Reply #35 |
54. No problem. How should I judge it? |
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EmilyAnne (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 03:32 PM Response to Reply #54 |
63. Totalitarianism is the real problem. Russia was a totalitarian nation before the Bolshevik |
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ananda (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:19 AM Response to Original message |
4. Watch "The Trap" |
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undergroundpanther (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 08:47 PM Response to Reply #4 |
67. Bingo!! and it's the inane |
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marmar (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:19 AM Response to Original message |
5. Debt derivatives.......The veil has been lifted. |
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specialed (276 posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:20 AM Response to Original message |
7. It's part of the problem. |
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Myrina (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:20 AM Response to Original message |
8. 3% of the people own 98% of the wealth ... |
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Fabio (929 posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:21 AM Response to Original message |
9. The issue was easy credit and the false/ineffective hedging of risk --> |
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sandnsea (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:24 AM Response to Reply #9 |
14. Mistaken assumptions? |
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Fabio (929 posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:34 AM Response to Reply #14 |
24. I am referring to homeowners who |
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sandnsea (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:48 AM Response to Reply #24 |
30. Based on the word of experts |
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Fabio (929 posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:59 AM Response to Reply #30 |
34. what are you saying? |
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sandnsea (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 12:11 PM Response to Reply #34 |
37. This was a scam from the gate |
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Fabio (929 posts) Send PM | Profile | Ignore | Wed Feb-25-09 01:06 PM Response to Reply #37 |
43. I find this analysis incomplete. |
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sandnsea (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 01:24 PM Response to Reply #43 |
44. The mortgages are completely irrelevant |
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karynnj (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 09:11 PM Response to Reply #9 |
68. Those videos are great do a great job explaining what happened |
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sandnsea (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:21 AM Response to Original message |
10. They sold the mortgage bundles as securities |
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blm (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:22 AM Response to Original message |
11. The banks had accounting system just like Enron - they got big bucks to FIX THEIR COOKED BOOKS |
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tavalon (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:23 AM Response to Original message |
12. Smart, you are. |
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NightWatcher (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:24 AM Response to Original message |
13. I believe this is the ultimate goal of capitalism...growth for the sake of growth till it consumes |
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Mari333 (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:25 AM Response to Original message |
15. add the cost of 2 unending wars to the deficit |
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napi21 (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:25 AM Response to Original message |
16. Check this video. It's the best explaination of what happened that I've seen. |
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FredStembottom (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:42 AM Response to Reply #16 |
25. Wow! Excellent! |
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FredStembottom (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:42 AM Response to Reply #16 |
26. Double post |
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CountAllVotes (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 12:48 PM Response to Reply #16 |
42. excellent explanation ... |
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napi21 (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 02:29 PM Response to Reply #42 |
57. Yes it has. GREED is not just an American thing! n/t |
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jakeXT (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 02:54 PM Response to Reply #16 |
58. I was missing things like CDO^2 |
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Viva_La_Revolution (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:26 AM Response to Original message |
17. same problem, expanded across the whole financial system... |
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FredStembottom (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:29 AM Response to Original message |
18. No underlying value to the U.S.? |
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whoneedstickets (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:30 AM Response to Original message |
19. It's all about securitization and leverage.. |
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Fabio (929 posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:53 AM Response to Reply #19 |
33. There a some good points here but I would add |
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Bonhomme Richard (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:30 AM Response to Original message |
21. Derivatives..BINGO! and.... |
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Postman (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:31 AM Response to Original message |
22. It's the Credit Default Swaps.... |
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redqueen (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 12:23 PM Response to Reply #22 |
41. Yes. |
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The2ndWheel (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:33 AM Response to Original message |
23. Since any of our organized ways of life require growth, it's not just capitalism |
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Skarbrowe (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:42 AM Response to Original message |
27. hmmm |
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Numba6 (355 posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:43 AM Response to Original message |
28. It's all them damn Rosicrucian's fault |
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damntexdem (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:53 AM Response to Original message |
31. I do buy it, given how the cancer systematically spread the risk to unwary investors. |
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RandomThoughts (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 11:53 AM Response to Original message |
32. I think there are a few things |
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kestrel91316 (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 12:09 PM Response to Original message |
36. IMHO the rising price of gas was the thing that knocked the props |
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daleo (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 12:19 PM Response to Original message |
38. I agree, the problem is unsustainable global capitalism |
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On the Road (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 12:19 PM Response to Original message |
39. It May Not Seem Like a Large Enough Event |
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Uncle Joe (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 12:21 PM Response to Original message |
40. The inevitable gravitational pull of global economic equalization after |
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specimenfred1984 (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 01:42 PM Response to Original message |
45. Capitalism is only as good as its regulation |
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ItNerd4life (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 02:08 PM Response to Reply #45 |
52. And poor regulation got us into this mess. |
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nichomachus (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 01:52 PM Response to Original message |
46. It's in the mix -- but a completely insignificant part of the problem |
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galloglas (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 01:53 PM Response to Original message |
47. "some kind of systemic cancer of capitalism" ???? |
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thereismore (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 03:22 PM Response to Reply #47 |
60. You got me there! You are right of course. nt |
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burythehatchet (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 01:58 PM Response to Original message |
48. The logical end-game of capitalism is that one person ends up with all the power/money |
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The2ndWheel (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 02:21 PM Response to Reply #48 |
53. Substitute species for person, and it works just as well |
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yella_dawg (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 02:01 PM Response to Original message |
49. Naomi Klein |
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DireStrike (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 02:01 PM Response to Original message |
50. It's the derivatives, not the housing. |
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leftofthedial (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 02:04 PM Response to Original message |
51. systemic cancer is it |
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Lydia Leftcoast (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 02:26 PM Response to Original message |
55. The issue was the wealthy and powerful manipulating the game to their own |
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taught_me_patience (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 02:27 PM Response to Original message |
56. Wages have not kept up with inflation |
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TheKentuckian (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 03:28 PM Response to Original message |
61. The problem is they turned all those mortgages into securities |
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AngryAmish (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 03:29 PM Response to Original message |
62. I'm sure you don't. |
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nichomachus (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 03:40 PM Response to Original message |
64. So the USSR tried Communism and it failed. The US tried |
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Name removed (0 posts) Send PM | Profile | Ignore | Wed Feb-25-09 03:45 PM Response to Original message |
65. Deleted message |
thereismore (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 06:42 PM Response to Reply #65 |
66. What a snotty and uncalled-for response. I am sorry for the people who have to put up with you. nt |
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GeorgeGist (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 09:55 PM Response to Original message |
69. Does the word GREED ring a bell ? |
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MadMaddie (1000+ posts) Send PM | Profile | Ignore | Wed Feb-25-09 10:03 PM Response to Original message |
70. I will say that all of the countries being tied to each other |
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