I certainly see it where I live. Across the street from me are homes which are in the $500k-$1 million range (my neighborhood is nice but more modest) and it is filled with retirees, most of whom built their homes in the period after the 2008 Crash. These were the folks who had money during those particularly lean times. The only people who could get a mortgage. Indeed at least some of these people probably paid cash for their homes.
This is an issue which we need to revisit soon, and we will at greater length. And there is is some validity to this fear.
First, the Crash of 2008 was a crash caused by central planning. It was the Federal Reserve which created the necessary climate for the Crash. The planners screwed up royally. They kept interest rates too low for too long and everyone came to believe that there was a “Greenspan Put” built into the stock market.
This is an interesting exchange from yesterday.
I could be in Toronto by dinnertime. Alternatively golf in Myrtle Beach sounds nice.
We like “green” energy. The water in my childhood home in the 80s was heated by solar panels. We like wind, and the rest. But we like it within the market.
Green energy can exist within the market despite what many people believe. In a world of 6 billion people and growing there is absolutely a market for cleaner energy sources. In many parts of the world solar particularly makes sense on micro levels. Lives can be made better with solar.
It is no small thing when one of the world’s great stock markets loses 1/20 of its value in a day. It happens though.
I am sure Ms. Clinton will be focusing on the fact that the EPA knew that there was lead in Flint’s water for 1 full YEAR without making the information public. I’m am also sure she’ll be calling for massive reforms at the agency and exploring fully how it could be that the federal government allowed thousands to be poisoned. Almost positive that will be her area of attention.
How nice for him.
Geithner speaking at the Center for American Progress. No doubt discussing the ins and outs of private equity economics.
Well, it seems the former president of Mexico doesn’t much care for Donald Trump’s idea. I just figured that Trump was buddies with one of the crony allstars Carlos Slim, the Mexican concrete magnate, and they had a deal ready to go. But maybe not.
For a pro-free enterprise site we are pretty nice to Bernie Sanders. We respect the dogfight he’s in right now and he’s an interesting guy. But…Well, we’ll let Tom address some of the issues.
If you comment on this one please watch the entire video.
The universe has patterns. Either go with the flow or pay later. Looks like we are “paying later.”
A serious recession would be terribly trying particularly in light of the geopolitical jockeying going on right now. Acute financial pressure, and it is already acute in some parts of the world, makes for instability. Leaders do stupid things when countries are in economic pain.
But don’t worry the official unemployment rate is 4.9% so everything is cool. No problems. None.
He should, and in this very narrow statement Sanders is almost correct. What Sanders does not mention however is that the reason Goldman Sachs acted the way it did, indeed why it COULD act the way it did in the lead up to 2008 was because its “greed” was facilitated by the Federal Reserve. The central planners wanted Goldman Sachs and the other banks to leverage themselves out. This was the goal. The Great Recession was created by the Federal Reserve,
Goldman was President Obama’s number 1 private contributor in the 2008 election.
Goldman should be dead. Door knob. A chapter in American finance history, but a chapter about the past. It should no longer exist. It is not an example of American capitalism. It is crony capitalism at its worst. It is a bailout bank. It took from you because of its mistakes and “profited” with ill gotten funds. You kept Goldman Sachs alive. The government gave you no other choice.