did the US singlehandedly cause the global economic crisis?

[BlahBlahYouToo]

did we mess things up for the rest of the world?

 

[sdifox]

Leading cause certainly, but the other countries are all willing participants in the shell game.

 

[ICRS]

Originally posted by: sdifox
Leading cause certainly, but the other countries are all willing participants in the shell game.

China now tops the U.S as the biggest polluter.

 

[FelixDeCat]

>did the US singlehandedly cause the global economic crisis?

Only if greed can solely be traced here. But the last time I checked, even real estate in Moscow was out of control, so no.

 

[sdifox]

Originally posted by: ICRS

Originally posted by: sdifox
Leading cause certainly, but the other countries are all willing participants in the shell game.

China now tops the U.S as the biggest polluter.

economic, not ecologic.

 

[Born2bwire]

Originally posted by: ICRS

Originally posted by: sdifox
Leading cause certainly, but the other countries are all willing participants in the shell game.

China now tops the U.S as the biggest polluter.

That's nice but I'm not into Pokemon.

 

[Kirby]

Originally posted by: Born2bwire

Originally posted by: ICRS

Originally posted by: sdifox
Leading cause certainly, but the other countries are all willing participants in the shell game.

China now tops the U.S as the biggest polluter.

That's nice but I'm not into Pokemon.

So, you don't liek mudkips? 🙁

 

[ICRS]

Originally posted by: sdifox

Originally posted by: ICRS

Originally posted by: sdifox
Leading cause certainly, but the other countries are all willing participants in the shell game.

China now tops the U.S as the biggest polluter.

economic, not ecologic.

China releases more greenhouse gasses than any other nation. They are the biggest cause of global warming now.

 

[Born2bwire]

Originally posted by: ICRS

Originally posted by: sdifox

Originally posted by: ICRS

Originally posted by: sdifox
Leading cause certainly, but the other countries are all willing participants in the shell game.

China now tops the U.S as the biggest polluter.

economic, not ecologic.

China releases more greenhouse gasses than any other nation. They are the biggest cause of global warming now.

Look, I don't care about how excited you are about your little Charimancer evolving or some shit like that. Tell it to the five year old next to you on the bus, he might give a damn.

 

[sdifox]

Originally posted by: ICRS

Originally posted by: sdifox

Originally posted by: ICRS

Originally posted by: sdifox
Leading cause certainly, but the other countries are all willing participants in the shell game.

China now tops the U.S as the biggest polluter.

economic, not ecologic.

China releases more greenhouse gasses than any other nation. They are the biggest cause of global warming now.

Did you read the topic? here, I'll cut and past for ya


Topic Title: did the US singlehandedly cause the global economic crisis?

 

[Queasy]

Cause, no. First domino in the fall, possibly. Bad economic practices were on display in other countries like England and Iceland, not just the USA. Russia showed what happened when you peg your economic growth solely on oil instead of diversifying.

 

[rasczak]

yes pikachu did it

 

[ICRS]

Originally posted by: sdifox

Originally posted by: ICRS

Originally posted by: sdifox

Originally posted by: ICRS

Originally posted by: sdifox
Leading cause certainly, but the other countries are all willing participants in the shell game.

China now tops the U.S as the biggest polluter.

economic, not ecologic.

China releases more greenhouse gasses than any other nation. They are the biggest cause of global warming now.

Did you read the topic? here, I'll cut and past for ya


Topic Title: did the US singlehandedly cause the global economic crisis?

Oops

I thought it read "did the US singlehandedly cause the global warming crisis"

 

[LegendKiller]

All other countries that used credit have similar problems. Australia had their own banks with bad mortgages. UK is terrible and had to bail out their #1 mortgage originator. Germany had to do the same to Hypo-Re because German mortgages (ironic since that's the 2nd time Hypo-Re got into the mortgage mess, first time under Hypo Vereinsbank).

Numerous UK banks are having problems with credit cards and such (Egg bank and Capital One's UK branch).

This isn't a US caused situation.

 

[amdhunter]

It was the greedy Arabs who raised the price of oil so high, that every single company in the world went bankrupt. I wish Bush would hurry up and drill all that oil out of Iraq. He doesn't have much time left.

 

[BlahBlahYouToo]

Originally posted by: amdhunter
It was the greedy Arabs who raised the price of oil so high, that every single company in the world went bankrupt. I wish Bush would hurry up and drill all that oil out of Iraq. He doesn't have much time left.

lol, at both of your points.

 

[frostedflakes]

Well they were stupid enough to buy our AAA rated securities, so I guess it was a group effort.

 

[sdifox]

Originally posted by: frostedflakes
Well they were stupid enough to buy our AAA rated securities, so I guess it was a group effort.

I wonder about the rating agencies and where is their punishment.

 

[Inspector Jihad]

Originally posted by: amdhunter
It was the greedy Arabs who raised the price of oil so high, that every single company in the world went bankrupt. I wish Bush would hurry up and drill all that oil out of Iraq. He doesn't have much time left.

lololololol, idiot.

 

[SMOGZINN]

Originally posted by: BlahBlahYouToo
did we mess things up for the rest of the world?

No, the USA just gave it the killing blow.
Many companies in many nations are playing the stock market as their primary goal instead of producing their product. So it became more important to increase their stock price next quarter then to make sure their company was able to produce a sellable product.
Once that became the primary goal of a company it was inevitable that they would sell their future for a short term gain.
Nothing has changed. We are at the start of this problem, not the end.

 

[Babbles]

Originally posted by: Queasy
Cause, no. First domino in the fall, possibly. Bad economic practices were on display in other countries like England and Iceland, not just the USA. Russia showed what happened when you peg your economic growth solely on oil instead of diversifying.

Arguably the "first domino in the fall" were UK Banks, not ones in the US.

Actually it is not arguable, the first banks that started to fall were indeed in the UK.

 

[ElFenix]

i blame california

 

[FelixDeCat]

Originally posted by: frostedflakes
Well they were stupid enough to buy our AAA rated securities, so I guess it was a group effort.

What was really funny was that the S&P and Moodys even gave triple A ratings to subprime securities to begin with! And the people who bought them tried to turbocharge their returns by using borrowed money to buy $30+ worth of this crap for every $1 in assets put up.

Those assets collapsed in value and they had a turbocharged ride into bankruptcy. 🙁

 

[LegendKiller]

Originally posted by: FelixDeKat

Originally posted by: frostedflakes
Well they were stupid enough to buy our AAA rated securities, so I guess it was a group effort.

What was really funny was that the S&P and Moodys even gave triple A ratings to subprime securities to begin with! And the people who bought them tried to turbocharge their returns by using borrowed money to buy $30+ worth of this crap for every $1 in assets put up.

Those assets collapsed in value and they had a turbocharged ride into bankruptcy. 🙁

Many of the subprime securities were fine, some were not, depending on how geography, underwriter, and composition. Do not mistake "subprime" for exotic mortgages at the heart of the problem. Option Arms and Liar Loans, two of the worst examples of underwriter abuse, were never intended to be used in the manner they were used, the data available for performance was based upon their original uses (high net-worth individuals). Both of these products were used by subprime borrowers, but not all subprime borrowers used them.

 

[Special K]

Originally posted by: FelixDeKat

Originally posted by: frostedflakes
Well they were stupid enough to buy our AAA rated securities, so I guess it was a group effort.

What was really funny was that the S&P and Moodys even gave triple A ratings to subprime securities to begin with! And the people who bought them tried to turbocharge their returns by using borrowed money to buy $30+ worth of this crap for every $1 in assets put up.

Those assets collapsed in value and they had a turbocharged ride into bankruptcy. 🙁

I remember reading in another article that the models used to predict the performance of these securities did not allow for home values to fall - that is, the growth rate of housing was assumed to be positive indefinitely.