the2real4mafol on 23 March 2013
| sales2099 said: Ya, banks f'ed up. But this whole recession started with stupid (for lack of a better word) people getting mortgages they had no intention of paying off. Blame on both sides. |
You blame on these people, but it's the banks that are stupid. The banks KNEW these people couldn't afford to pay for these mortgages, but they done it anyway, just to make a quick buck. If banks remained regulated (thanks abunch George Bush!), then the banks might have been more responsible and thus prevented this mess. Also, basing economic growth on one area, in this case housing is always a disaster waiting to happen. Even, developed economies must diversify their sectors, then a recession won't be so bad.
Xbox Series, PS5 and Switch (+ Many Retro Consoles)
'When the people are being beaten with a stick, they are not much happier if it is called the people's stick'- Mikhail Bakunin
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