Supernova82 on 18 September 2008
| cdude1034 said: Wow. Just wow. I wasn't going to respond to your ignorance, but I figured it's best not to let others believe how full of it your post is. The American economy is in the position it's in because the credit institutions in this country lent money to a lot of people who couldn't pay it back. This started a domino effect. Once the people started defaulting on their loans, these banks started to lose a lot of money. Once they started losing this money, the confidence in these institutions decreased dramatically, so the people who had their money there moved it elsewhere. One of these places was oil, which contributed greatly to the run up in price, but that's a story for another time. Anyway, this lack of confidence led people who would've otherwise kept or placed their money there to not do so. These institutions didn't have enough capital to "pay the bills" per se, so they went under. This isn't karma, this was caused by really bad business decisions. It would've unfolded the same if we had an isolationist foreign policy. The only argument you can make relating FP to this current situation is the fact that if we didn't spend so much on the war, we'd have more bailout money. Please keep your misinformed editorials off of this website. Thanks. |
History has a strange way of repeating itself. 2000's is very similar to the 1920's. October 1929 credit crunch leading to crash in stockmarkets triggering The Great Depression. Great Depression 1929 to 1933.
Second Great Depression?? 2009 to 2013???
BTW: In regards to Iraq War it is just another Vietnam War. Unwinnable War. The enemy are hiding underground in bunkers and rocks and have munitions to fight for years and years. Vietnam had an extremely complex system of underground tunnels where the enemy hid away from the Americans.
America is wasting lots and lots of money on wars it can not realistically win. wars are draining the American economy and causing widespread outrage amongst the American people.
