All this doom and gloom..

[posterboy]

Not as financially savy as some of the people on this forum, can you folks explain how all this started?
Did it start a while back with al gore and his climate change nonsense leading high food prices since farms were used to grow bio fuel additives instead of wheat, corn etc. Then oil prices followed by the failing banks?

~lost

[10 Pence Short]

Back in 1997...

[tricky69]

10 Pence Short said:

Back in 1997...

august 12th to be exact

[Yugguy]

Banks greedy enough to offer 110% mortgages, consumers stupid enough to take them on.

[Fittster]

1971

[SplatSpeed]

idiots loaning money to other idiots

credit checked by idiots

packeged up by smart people and sold to more idiots and rated by idiots

all regulated by very few idiots

watched by a govermant of idiots rubbing their hands

[posterboy]

interesting, government borrowing? who do they borrow from?

[mybrainhurts]

posterboy said:

can you folks explain how all this started?

Bill Clinton pushed US lenders to give mortgages to people who couldn't afford them...

[funkyol]

posterboy said:

Not as financially savy as some of the people on this forum, can you folks explain how all this started?
Did it start a while back with al gore and his climate change nonsense leading high food prices since farms were used to grow bio fuel additives instead of wheat, corn etc. Then oil prices followed by the failing banks?

~lost

It started with greed. Greedy consumers and greedy banks. A buy now, pay later (maybe) culture. The whole "because I'm worth it" mentality that's now intertwined in our lifestyles.

what goes up, must come down, although what comes down will one day, go back up.

[SplatSpeed]

mybrainhurts said:

posterboy said:

can you folks explain how all this started?

Bill Clinton ALLOWED US lenders to give mortgages to people who couldn't afford them...

EFA

[pokethepope]

....other governments, banks, big companies.

[s,one]

Apparently it's all Gordon Brown's fault. World recession, third world hunger unrest in the middle east, all of it. I read it on PH so it must be right.

[WhoseGeneration]

posterboy said:

Not as financially savy as some of the people on this forum, can you folks explain how all this started?
Did it start a while back with al gore and his climate change nonsense leading high food prices since farms were used to grow bio fuel additives instead of wheat, corn etc. Then oil prices followed by the failing banks?

~lost

'twas a modern version of an old mythical art, alchemy.
"A new paradigm".
What point history?

[SplatSpeed]

WhoseGeneration said:

posterboy said:

Not as financially savy as some of the people on this forum, can you folks explain how all this started?
Did it start a while back with al gore and his climate change nonsense leading high food prices since farms were used to grow bio fuel additives instead of wheat, corn etc. Then oil prices followed by the failing banks?

~lost

'twas a modern version of an old mythical art, alchemy.
"A new paradigm".
What point history?

Oi Alchemy works

gordon brown took all our gold and turned it to st!

[SS HSV]

SplatSpeed said:

idiots loaning money to other idiots

credit checked by idiots

packeged up by smart people and sold to more idiots and rated by idiots

all regulated by very few idiots

watched by a govermant of idiots rubbing their hands

Superb Idiots Guide

[mybrainhurts]

SplatSpeed said:

mybrainhurts said:

posterboy said:

can you folks explain how all this started?

Bill Clinton ALLOWED US lenders to give mortgages to people who couldn't afford them...

EFA

It was his policy decision...

He has a lot to answer for...

[SplatSpeed]

mybrainhurts said:

SplatSpeed said:

mybrainhurts said:

posterboy said:

can you folks explain how all this started?

Bill Clinton ALLOWED US lenders to give mortgages to people who couldn't afford them...

EFA

It was his policy decision...

He has a lot to answer for...

yes but he din't force them, they got greedy