What if the Great Recession Never Happened?
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Date: 2022-07-15
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Comments and reviews: 9
The
Having been studying economics and the crisis I can say wholeheartedly that is was caused by the banks. It becomes harder and harder to believe they didnt see it coming with the creation and abuse of CDOs and Credit Default Swaps. Add in the fact that during the bubble years they lobbied viciously against any regulations of those markets and theres reason to believe that it mightve been done on purpose.
There is a brilliant documentary based of a book by Richard Werner called Princes of the Yen. It mainly focuses on the influence the Central Bank of Japan had on the bubble and crash of the Japanese economy, and why it was done on purpose.
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Having been studying economics and the crisis I can say wholeheartedly that is was caused by the banks. It becomes harder and harder to believe they didnt see it coming with the creation and abuse of CDOs and Credit Default Swaps. Add in the fact that during the bubble years they lobbied viciously against any regulations of those markets and theres reason to believe that it mightve been done on purpose.
There is a brilliant documentary based of a book by Richard Werner called Princes of the Yen. It mainly focuses on the influence the Central Bank of Japan had on the bubble and crash of the Japanese economy, and why it was done on purpose.
reply
Adrastos
Great explanation of the 2008 crash. I do have to say that president Obama would have won in 2012 as well, especially with not having to rebuild a broken economy! Mr Trump almost ran in 2012, but after getting roasted at the presidential dinner by President Obama seemed to think otherwise
The big change Probably would have been no rise of Senator Sanders and his speech about breaking the big banks up. Mrs clinton may have had an easier time in the general election as a result defeating Mr Trump, but who knows. China still would have been a huge problem though that America (and the world) will have to contend with!
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Great explanation of the 2008 crash. I do have to say that president Obama would have won in 2012 as well, especially with not having to rebuild a broken economy! Mr Trump almost ran in 2012, but after getting roasted at the presidential dinner by President Obama seemed to think otherwise
The big change Probably would have been no rise of Senator Sanders and his speech about breaking the big banks up. Mrs clinton may have had an easier time in the general election as a result defeating Mr Trump, but who knows. China still would have been a huge problem though that America (and the world) will have to contend with!
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kwikstik
In the 15th century, the duke of Burgundy was offered a kings crown by the Holy Roman Emperor Friedrich III, either for the territory of Brabant or Frisia. He refused, because he wanted all his territories to be united under a kings crown. What if he had accepted the offer for a kings crown for Brabant? It would have put him on a similar height as the kings of England and France. How would that have changed his policies and the Burgundian dreams of an empire between France and the HRE? An empire stretching from the North Sea to the Alps.
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In the 15th century, the duke of Burgundy was offered a kings crown by the Holy Roman Emperor Friedrich III, either for the territory of Brabant or Frisia. He refused, because he wanted all his territories to be united under a kings crown. What if he had accepted the offer for a kings crown for Brabant? It would have put him on a similar height as the kings of England and France. How would that have changed his policies and the Burgundian dreams of an empire between France and the HRE? An empire stretching from the North Sea to the Alps.
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Yep
Problem was US financing system and guranteed bailouts.
If a bank is going to get bailed out either way, and all customers pay the same amount of interest rates, its gonna give credit to highest number of people.
In the end, as long as FED (an entity that prints the money, decides who gets loans and decides these loans interst rates, private banking doesnt exist.
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Problem was US financing system and guranteed bailouts.
If a bank is going to get bailed out either way, and all customers pay the same amount of interest rates, its gonna give credit to highest number of people.
In the end, as long as FED (an entity that prints the money, decides who gets loans and decides these loans interst rates, private banking doesnt exist.
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timwf11b
Its a common theme that the financial crisis was because of deregulation but there really wasn't much in the way of relevant deregulation. A number of the negative private sector actions were encouraged by regulation and government policy. Counting mortgage backed securities as low risk, pressure to lower lending standards, etc.
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Its a common theme that the financial crisis was because of deregulation but there really wasn't much in the way of relevant deregulation. A number of the negative private sector actions were encouraged by regulation and government policy. Counting mortgage backed securities as low risk, pressure to lower lending standards, etc.
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Bu$$yBuster
2008 really only messed up rich/middle class peoples lives the poor were basically uneffected except when it came to jobs Im guessing. So for me it doesnt really matter still have to grow up poor and having to move schools all the time unless for whatever reason in the alt timeline my dad wins the lottery or something.
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2008 really only messed up rich/middle class peoples lives the poor were basically uneffected except when it came to jobs Im guessing. So for me it doesnt really matter still have to grow up poor and having to move schools all the time unless for whatever reason in the alt timeline my dad wins the lottery or something.
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Mike
In the 1970s the US tax laws were changed to funnel money to the top 1%, and that plus the weakening of unions and tax incentives to shift jobs overseas led to the erosion of workers' purchasing power and standard of living. Reversing that might not solve the problem completely but it would solve a large chunk of it.
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In the 1970s the US tax laws were changed to funnel money to the top 1%, and that plus the weakening of unions and tax incentives to shift jobs overseas led to the erosion of workers' purchasing power and standard of living. Reversing that might not solve the problem completely but it would solve a large chunk of it.
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Antonio
Whatifalthist: So. do you want althist or Geopolitic?
Majority: Althist.
Whatifalthist (after several geopolitical video): OK, so I gave you a ten minutes althist occupied for half the time by explanation of what happened in real life, can I spend the rest of 2021 talking about geopolitics?
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Whatifalthist: So. do you want althist or Geopolitic?
Majority: Althist.
Whatifalthist (after several geopolitical video): OK, so I gave you a ten minutes althist occupied for half the time by explanation of what happened in real life, can I spend the rest of 2021 talking about geopolitics?
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InfernosReaper
Ya know what would really have happened? All the social progress wouldn't have ground to a halt as the powers that be scrambled to find something to distract the masses with in order to make sure they didn't put too much thought into how the wealthy elites were screwing the world over.
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Ya know what would really have happened? All the social progress wouldn't have ground to a halt as the powers that be scrambled to find something to distract the masses with in order to make sure they didn't put too much thought into how the wealthy elites were screwing the world over.
reply
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