Quote:
Originally Posted by Robbie
Unfortunately for all of us...every modern economy is bankrupt.  |
But why are they bankrupt? It's not because of Mixed Economies, i'll tell you that. It all started here with the mortgage crisis. That massive fraud has cost us over $3 Trillion (3x more than those bullshit wars) and has also decreased people's median net worth by around 40%!
I saw the mortgage crisis coming and got out early. When shit started hitting the fan, i was saying that there would be more shoes to drop. Europe was that next shoe.
The combined European Union is our largest trading partner. When we entered longest & deepest recession since the Great Depression, we were obviously buying dramatically less european (and chinese etc) goods. Of course they were going hit a big decline, and we've been seeing that over the last couple years. We're also seeing China slow sharply due to slack demand in the US and Europe.
To me, the evidence is clear that the problem was caused by barely regulated, unfettered capitalism run amok.
For a brilliant overview of the financial crisis, I highly recommend the documentary
Inside Job.
https://youtube.com/watch?v=FzrBurlJUNk
crap, forgot how to embed youtube movies lol