Economicslet here
Now that dust have been settled, what did cause the 2008 finantial crysis?
Was it market's fault?
Was free market laissez-faire responsible for it?
Should the public institutions regulate the
finantial market to avoid future crisis?
>inb4 this thread gets ignored because this meme board only shitposts about crypto
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did you not watch the movie user?
It was regulation incentivizing poor decision making, namely businesses being allowed to sell homes to people with fucked up credit that could never afford their purchases. We're due for the same thing to happen again via student loans.
>We're due for the same thing to happen again via student loans.
I thought in the US student loan debt doesn't disappear when you declare bankruptcy?
youtube.com
>I have a feeling people are gonna be doing what people alway do when economy tanks.They will be blaming inmigrants and poor people. (and even teachers)
>MUH POORS
>MUH RACISM
If Hollywood makes X statemnt, then my automatic reaction is to be SCEPTICAL. Further analysing the subject and trying to search a rational and correct alternative explanation
This is why I'm here. Asking you
>It was regulation incentivizing poor decision making
>It was regulation incentivizing
>regulation incentivizing
What exact regulation did incentivize bussiness to sell homes to fucked up credit poor people?
archive.azcentral.com
Interest rates were fucked with artificially to make predatory loaning lucrative. This incentivized businesses/banks to make predatory decisions with the thought that the government would pick up the tab on behalf of the poor/stupid.
The same exact thing is happening right now with student loans and also healthcare.
Kill yourself you faggot commie
What a well thought out and intelligent comment.
they knew that they could do this shit and get away with it because the government would bail them out and socialize the losses amongs everyone
>In 1995, President Bill Clinton's HUD agreed to let Fannie and Freddie get affordable-housing credit for buying subprime securities that included loans to low-income borrowers. The idea was that subprime lending benefited many borrowers who did not qualify for conventional loans. HUD expected that Freddie and Fannie would impose their high lending standards on subprime lenders.
In 2000, as HUD revisited its affordable-housing goals, the housing market had shifted. With escalating home prices, subprime loans were more popular. Consumer advocates warned that lenders were trapping borrowers with low "teaser" interest rates and ignoring borrowers' qualifications.
>HUD restricted Freddie and Fannie, saying it would not credit them for loans they purchased that had abusively high costs or that were granted without regard to the borrower's ability to repay. Freddie and Fannie adopted policies not to buy some high-cost loans.
>That year, Freddie bought $18.6 billion in subprime loans; Fannie did not disclose its number.
>In 2001, HUD researchers warned of high foreclosure rates among subprime loans.
>"Given the very high concentration of these loans in low-income and African American neighborhoods, the growth in subprime lending and resulting very high levels of foreclosure is a real cause for concern," an agency report said.
>But by 2004, when HUD next revised the goals, Freddie and Fannie's purchases of subprime backed securities had risen tenfold. Foreclosure rates also were rising.
>finantial crysis
Nice try, Rakesh.
Actually I'm spanish
>not listening to the autistic drummer and investing in water
You dun goofd
What is your explanation regarding the european crisis, then?
any good movies that take their suspense from realistic market situations and not from fake hollywood drama
Shit, you in Sarria?
The Federal reserve and entire structure of the banking system has been the cause of every major crisis since 1913
/Thread
The older I get the more I relate to Brad Pitts character. I just want to make enough to get a farm in Wyoming and live in peace.
I don't pay much attention to europe desu.
In 08? Contagion
08 - present? Gov budget deficits hidden with dubious accounting, high public debt to GDP, private debt bailouts in efforts to socialize losses resulting from the housing crisis and subsequent recession.
This
It was da joos. da joos did it
kikes and chinese
duh
And lurking behind all of this is the federal reserve.
When are you faggots gonna realize it needs to be burnt to the ground before we have a sane world again ?
its public info. The criminals are all public. Ben Bernanke hank paulson jamie dimon lloyd blankfein, janet yellen. It was all jews robbing america and giving the money to jews. Bush and Obama are guilty as fuck but they were always tarded drugged up stooges
jewish organized banking criminals asset stripped the USA. Killing jews isnt some nazi crime, its saving humanity from evil
Bad incentives caused by poorly thought out and implemented regulation. Banks were encouraged by the government to make risky loans to the poor/ people who could actually afford a house. They then packaged up and sold these risky loans to each other, while transferring the risk by buying insurance on the loan packages, see AIG. These loans all had to be rated according to regulations, but the ratings agency was just paid off and admitted they couldn't do their job so the ratings were just whatever you paid them to make them.
Before it all burned down I got a mortgage as a 20 year old with like 3 months work experience and no money down. The system was fracked and the mortgage was super high risk, but they didn't care. My mortgage was sold off within the month of it being created.
>doesn't disappear when you declare bankruptcy
It's a good thing.
Otherwise, we'd have hordes of idiots running up the register on 3 worthless degrees apiece.
This is exactly what the student loan issue sounds like too. if you had a high school diploma you could get a $200,000 to go to school and nobody blinked an eye. Now 10-20% of the younger generation has negative net worth and when they all decide to stop paying their loans its game over
Greed. Banks giving out sub prime loans to people who could never afford to buy a house, then packing those loans into a Wall Street created financial product for other institutions and investors to invest in. After a few years, those loans crossed a mark where the interest rates would increase and the payments would be greater to where the payments could not longer be paid, thus defaulting on their mortgage and creating the demise of the financial products going to zero that contained those bad loans.
"Muh greed"
Shut the fuck up boomer
Every fucking brainlet chiming in here like you have a reasonable theory: "muh greed muh Jews muh banks"
stop fucking yapping about all this bullshit until you start discussing the only thing that matters: central banking . Jesus Christ you fucks are absolutely retarded
> Banks were encouraged by the government to make risky loans to the poor/ people who could actually afford a house
>encouraged
It was more like the government allowed them and they jumped at the chance to jew poor people.
>I'M AWFULLY ANGRY AT YOU, GOY
>I GIVE YOU A LOAN YOU CAN'T POSSIBLY AFFORD, OUT OF THE GOODNESS OF MY OWN HEART, AND YOU DON'T HAVE THE DECENCY TO SELL YOUR ORGANS TO MAKE THIS MONTH'S MORTGAGE
>OY VEY!
>Sarria antifa.
Kys you burgoise nigger.
le optimus prime mortages, and incentives twisted by inflation
>its the boom that should make you feel eerie
In short, debt. Which has been incentivized with low interest rates for a decade now. Wonder what will happen----
>These loans all had to be rated according to regulations, but the ratings agency was just paid off and admitted they couldn't do their job so the ratings were just whatever you paid them to make them.
really it comes down to this. regulation failed. corruption and greed allowed the bundling of shit assets as not-shit assets.
someone's mad they don't have a nice wife and house yet.
The Gov and Banks were sued by the Diversity Lobby to make subprime loans as a 'solution' to redlining. And they are doing it again, now as 'nonprime' loans, just a name change.
Mad about a lot more than that trust me.
Doesn't change the fact that I'm right
>Was it market's fault?
Yes. Nobody knew what risk the securitized loans carried, everyone knew it was not sustainable, but every single person loved the music, because everyone danced and no one wanted to stop.
>Was free market laissez-faire responsible for it?
Yes. What is not regulated against abuse(!) will in turn get abused.
>Should the public institutions regulate the finantial market to avoid future crisis?
Yes. Otherwise, it will simply repeat itself.
That part of the movie is correct though. You have on half of the poorfags in this country (white trash) blaming the other half (niggers/immigrants) instead of directing their anger at the Jews and Banks
>>Should the public institutions regulate the finantial market to avoid future crisis?
>Yes. Otherwise, it will simply repeat itself.
So what should we short now to make money? Corporate debt?
Ignore the retards. They don't know the meaning of the word regulation. It was the deregulation and no regulations that caused this.
They arent wrong. A lot of dumb poor immigrants will blame dumb poor immigrants who happen to be a different color or are slightly more newer than they are instead of addressing the source of the problem. Not that I blame them though, its much easier to punch down like a bitch than grow a pair and address your superiors like a man.
Read Peter Wallison's dissent from the official FCIC report.
>Democrat majority: There wasn't enough regulation
>Republican dissent: It was a combination of many factors
>Wallison: Congress forced Fannie and Freddie to take too many subprime loans, creating a huge market for those loans
Sauce on this? is there are set floating around?
No it wasn't you fucking idiot, it WAS regulations. Specifically the mass Centralization of our banking system through the FED.
every post itt should be discussing one thing and one thing only: THE FEDERAL RESERVE
if you don't actively realize the fed is the problem, you are an NPC
calm down ron paul
everybody with half a brain, who isn't completely cucked by the rich, understands that the 2008 collapse happened because of decades of neoliberal policies removing regulations and oversight from the market
those with a whole brain take this further and realize that the whole thing was basically by design and that the biggest offenders made out like bandits even after the house of cards collapsed, because that's how capitalism works in practice as opposed to theory
nationalize everything desu senpai
I cannot wait for their QE ponzi to come crashing down on them. It will go down as one of the largest financial disasters of our lifetimes.
the banks only did what they did because they new that they would be bailed out by taxpayer money and QE. kys
Papa Johns
Shut the fuck up, we don't live in a capitalist system, the last time we did was the time from when Jackson eliminated the second bank of the US to the civil war.
We actually live in a corporatist oligarchy, and the regulations you speak of, I imagine you jerk off to glass steagall on the daily, are shit tier political bullshit BANDAIDS that are placed on top of an inherently shit fiat Ponzi that let's banks:
1. Seek rents and maintain their power regardless of shit decisions
2. Privatizes their gains and socializes their losses
3. Transfers power from the people to a ruling class in Washington without direct taxation, making everyone else a poor fiat wage slave
All the other bullshit every low Iq autist is positing itt as the cause is literally a derivative of the above, and if you don't see that you are a fucking retard and don't belong in crypto. Fuck off back to plebbit and go suck off Sanders
what about the banks that literally ceased to exist? don't be stupid.
everybody has heard this nonsense before bro, you're probably not old enough to remember how big ron paul was on Jow Forums
pointing to the fed as the star around which all our problems orbit shows a piss poor understanding of history, economics, politics, basically everything you're trying to proselytize about
you even pulled out the old "we don't live in real capitalism" trope. fucking kek, try reading a book other than end the fed
They werent important enough to survive. If jpm or citi had trillions in liabilities the fed still would have bailed them out
I have read a laundry list of books on the subject you fucking brainlet, I also went to Caltech
You don't understand a single fucking think about non linearities, Centralization, pareto distributions, rent seeking and ergodicity, how the fed came to me, etc etc etc
Please suck me you fucking brainlet, Sanders cucks like you are un-ironically why we are in this mess. You keep voting for the same bullshit over and over and keep clouding the debate by blurting out arguments you don't understand the implications of, allowing the bankers to keep raping us all
Be*
Also anyone who supports the sort of nationalization you're talking about is literally a low test low iq pussy. You're like fucking sheep and I un-ironically hate you more than the ruling class that run this mess since at least they have intellect and balls to make out with profit. Socialist Worms like you are literally like cattle that politicians herd into pens as you bleat about "muh regulations" which mutilate humanity
>name-dropping terms to seem like you know what you're talking about
>i went to caltech and thats why i shitpost on Jow Forums about ending the fed
okay i lol'd
unironically read marx, kid. i promise it doesnt make you sick with communism cooties
It still doesn't mean they are able to pay the debt.
Also, I think it defaults in something like 25 years?
Which one of these anons are right?
>Name drops a literal coping bourgeois jew
>Understands nothing about antifragility or human evolution, why communism is a giant coping mechanism for weaker males and women that isn't even desirable in an ideal world
Rsad the Unabomber manifesto you fucking cuck, read Darwin, read nietzche to understand how badly you're coping with your own insecurities and inferiority, how you want the government to save you from being the shitstain you are, how fuckwits like you voted in the progressives, the fed, allowed women to vote giving us these massI've unsustainable fucked up social welfare programs, all regulations that are going to end up literally destroying the human race through the Centralization of risk. God fucking dammit I would kick your ass to a pulp if you were in front of me. Slave moralist cucks like you have castrated mankind and lead to the complete financial collapse we are about to experience, and you actually are retarded enough to think you're right.
You need ideal genocide. Fuck off back to plebbit you dickless fag
And yes, I did go to Caltech and YES, I *do* understand the history and math behind this discussion much better than an autistic boomer like you ever will
Every single crash is caused by leveraging too much. Some people fuck up which fucks other people which fucks other people and on and on. Next crash is coming before or after (if Trump lucky) the next Presidential election. The tax cuts delayed this but it's coming. The market is overvalued and it needs one small push for the dominions to fall.
Screen shot this.
>Rsad the Unabomber manifesto you fucking cuck
is this satire?
no, the loans can't default
If they don't default then the e.g. Collateralized Debt Obligation (CDOs) in which they are in can't go bankrupt this way. At least in the fashion of going bankrupt.
Of course you could argue when the credit is going to default if you can't get rid of it.
Can you actually inherit the student debt or is there any way that your children can get rid of it ?
Remember this is the price of capitalism.
Corporations have no morality nor humanity. Thank you free markets!
I'm under an impression there has always been some kind of a mechanism that made debts like student debt default after 30 years, which was changed to 25 under Obama.
I'm not sure if it's some kind of way the debts were forgiven or if they just defaulted. I might be wrong on this however and would like to know if such mechanism actually exists in the USA.
Yeah for sure. Right now, theres a lot of corporations overlevered. If you compare cash equivalents to corporate debt and subtract a few companies out with large cash balances like Apple, Google, etc, companies are levered like crazy, partly because of low interest rates and an imcrease in buyouts.
true.
In UK they get cancelled 30 years after one becomes eligible to repay (earning >23k per annum)
this
No. It is un-ironically one of the most intelligent and lucid dissections of modern liberalism and how human inferiority complexes have destroyed mankind in existence.
Just because Jefferson owned slaves should I ignore the declaration of Independence? Just because the Unabomber sent bombs to people should we ignore the truth of what he said?
It's Friday night I'm going out to fuck some sluts. Enjoy shitposting from your.mothers basement you communist plebbit neckbeard
I agree there needs to be extremely strict regulation to protect trhe environment, in fact what has caused corporations to do this is the fact that WE DONT HAVE FREE MARKETS YOU FUCKING RETARD, WE HAVE A CORPORATE OLIGARCHIC GOVERNMENT PROTECTING CORPORATIONS AS PEOPLE THROUGH BULLSHIT LEGAL CONTRIVANCES LIKE "MUH CORPORATE PERSONHOOD", UNIRONICALLY TURNING CORPORATIONS INTO QUASI STATES
We haven't had a true free market in over a century.
>in fact what has caused corporations to do this is the fact that WE DONT HAVE FREE MARKETS YOU FUCKING RETARD
Free markets is like communism. We'll never have real free markets just like we'll never have real communism. Anyone trying to say otherwise is a brainlet.
It was caused niggerloving democrats forcing the financial industry to give niggers home loans and like the niggers they are they bailed on their payments like the niggers they are and they really niggered up the market.
Hi, fellow Spaniard.
Madrid, reporting in.
Nice ancap symbol.
Well they stay even if you go bankrupt in the US.
If you die they will be waived if they are federal loans (studentloanhero.com
Private student loans are different but for a normal human there is no escape depending on the contract
You know the Unabomber was literally a genius right?
Your kids obviously cannot inherit your student debt
It's like a race to whether "WE HAVENT HAD TRUE CAPITALISM" or "WE HAVENT HAD TRUE SOCIALISM" is trotted out more often as an excuse
no if they could default then the rates would skyrocket and college might actually get affordable again since nobody would be able to get a loan anymore
End the Fed.
Really boils down to Federal Reserve backs all the banks infinitely so none of them are responsible for their decisions. If banks actually were to be held responsible like they were in the 1800's they would make better decisions. No regulation is needed. Just remove the Fed and let the market run its course.
Unabomber could legit see the future. Keep in mind he had to get the message out in the days before youtube; bombs were all he had. His predictions have all become true. He predicted the loss of dignity and privacy and the rise of machines over people. His conclusions were that we should abandon tech and go back to nature which I dont agree with.
>reddit spacing
>tries to evade accusations against jews
mmm how do ya do fellow white man? fuck off shlomo
He's right though. This issue stems from the monetary policy of central banking. Not your bank down the street. The Federal Reserve, but yes the central banking was brought to the U.S. by the Jews if I recall correctly.
By Paul Warburg, from kuhn and loeb company.
But it was mostly wasps who designed and supported it once he gave them the idea. Believing it was some grand Jew conspiracy to start off with is retarded, the original central bank (bank of England) was literally conceived designed and created by wasps
Yea that's who I was thinking of. Paul Warburg, but I agree. Silly to blame the Jews. People just need to realize the cancer that is central banking.
(((The federal reserve)))
The jewish sebbatical year caused it.
Yes, central banking plus the fact that jews on wall street are robbing your country fucking blind.
Central banking + jews on wall street + jews in washington = us taxpayer getting bled to death.
BUT ISHRAIL IS MUH GREATEST ALLY
>It will go down as one of the largest financial disasters in history.
Fixed.
>Implying commie faggots are worth debating
Anyone else amazed by what's happening in America? I mean like 60 years ago they used to broadcast documentaries about fucking up commies if they see any or know any. Now communist ideas are being spread throughout American colleges and universities. How the fuck is that even possible? Same thing with homosexuals and minorities. HOW??? IT'S RECENT HISTORY FOR FUCKS SAKE!
It's pretty scary. Had a friend who went a float trip and met a guy who was an assistant professor for communism or something like that. This faggot defended Mou Zedong and Joseph Stalin like they did nothing wrong.
The legs finally fell out from religion in the US outside of isolated pockets. Now (((secularism))) has risen to fill the vacuum of belief and explain why there's evil in the world. Turns out it was the United States all along (with Europe as a very honorable mention), and white people in particular, purge them all and the utopia is within our grasp! Forever!
>jews
>1 of 11 matches
>Replies 95
rookie numbers
Have you guys seen this?
youtube.com
Everyone knows that top Russian government is still KGB.
I like Yuri, I'm not totally sold on the idea of him not being an agent after his escape but he still has some worthwhile things to say. Especially when he talks about James Bond vs. cultural subversion in intelligence agency work, I think he's spot on. I think it's more likely our "leaders" co-opted KGB methods than being taken over by Russian intelligence directly, though I'm sure Putin is smiling to himself whenever he looks at the MO of the US.
the problem with secularism is not only that the state becomes the arbiter of morally good or morally bad actions but that, more importantly, the state has no such right to reign over the spiritual realm, only the temporal realm and only the temporal realm through the permission of the people it governs.