Black People : Who Caused The Economic Crisis

Discussion in 'Black People Open Forum' started by Monetary, Oct 3, 2008.

  1. Monetary

    Monetary going above and beyond PREMIUM MEMBER

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    Below is a short list of people or organizations who are perceived to have had a part in the economic crisis that we are experiencing today. This list is in a Newsweek article with the same title as this thread. Click HERE to view the complete article.

    • The Federal Reserve, which slashed interest rates after the dot-com bubble burst, making credit cheap.
    • Home buyers, who took advantage of easy credit to bid up the prices of homes excessively.
    • Congress, which continues to support a mortgage tax deduction that gives consumers a tax incentive to buy more expensive houses.
    • Real estate agents, most of whom work for the sellers rather than the buyers and who earned higher commissions from selling more expensive homes.
    • The Clinton administration, which pushed for less stringent credit and downpayment requirements for working- and middle-class families.
    • Mortgage brokers, who offered less-credit-worthy home buyers subprime, adjustable rate loans with low initial payments, but exploding interest rates.
    • Former Federal Reserve chairman Alan Greenspan, who in 2004, near the peak of the housing bubble, encouraged Americans to take out adjustable rate mortgages.
    • Wall Street firms, who paid too little attention to the quality of the risky loans that they bundled into Mortgage Backed Securities (MBS), and issued bonds using those securities as collateral.
    • The Bush administration, which failed to provide needed government oversight of the increasingly dicey mortgage-backed securities market.
    • An obscure accounting rule called mark-to-market, which can have the paradoxical result of making assets be worth less on paper than they are in reality during times of panic.
    • Collective delusion, or a belief on the part of all parties that home prices would keep rising forever, no matter how high or how fast they had already gone up.
     
  2. Da Street So'ja

    Da Street So'ja Banned MEMBER

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    "caused" as in past tense?

    like Mr. Oldsoul said if something gets a status which we declare war on, it only gets worse (i.e. war on drugs, war on terror, war on cancer, war on homelessness) lol

    :karate:

    so now the REAL fun begins:SuN037:
     
  3. soulosophy

    soulosophy Well-Known Member MEMBER

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    BRITAIN - THE EVIL EMPIRE

    I have mentioned a document entitled The Protocols of the Learned Elders of Zion on this site before. I don't believe that there exist conspiracy theories, just AGENDAS. There are many who wish to debunk the Protocols but what we are witnessing today as described and laid out in the Protocols is not coincidence. If we do not read and do our own research we will not know their agenda and will be shocked and horrified when we find our countries in economic, financial and food crisis’s. As I wrote in another thread posted by Bro OldSoul “The Shock Doctrine” http://destee.com/forums/showthread.php?t=55938 near the end of the video it states: “only a CRISIS, actual or perceived, produces real CHANGE”.

    Protocols #3: sections 5 & 7

    POVERTY OUR WEAPON

    5. All people are chained down to heavy toil by poverty more firmly than ever. They were chained by slavery and serfdom; …We have included in the constitution such rights as to the masses appear fictitious and not actual rights. What is it to the proletariat laborer, bowed double over his heavy toil, …if talkers get the right to babble, if journalists get the right to scribble any nonsense,… once the proletariat has no other profit out of the constitution save only those pitiful crumbs which we fling them from our table in return for their voting in favor of what we dictate, in favor of the men we place in power, the servants of our AGENTUR ... Republican rights for a poor man are no more than a bitter piece of irony, …

    WE SUPPORT COMMUNISM

    7. … Our power is in the chronic shortness of food and physical weakness of the worker because by all that this implies he is made the slave of our will, and he will not find in his own authorities either strength or energy to set against our will. Hunger creates the right of capital to rule the worker more surely than it was given to the aristocracy by the legal authority of kings.


    BRITAIN - THE EVIL EMPIRE

     
  4. mardukson

    mardukson Well-Known Member MEMBER

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    I don't know if that part about the constitution refers to the u.s constitution or not, but I'm reading all the time how the U.S constitution was just a trick or a play on words and it never meant give anybody any freedom.

    Some of the peops who are into the occult might, or not back me up on this. But occultist always give people choices when they working their mojo to course the future.

    You can take anything they do and use it the right way or you can take it and use it the wrong way.

    The right to bear arms and freedom of speech is all any people needs to stay free from anything.

    Now if they let somebody take the right to bear arms from them or allow somebody else to do the talking and thinking for them does that mean the document tricked anybody?

    The U.S. constitution was greater than the bible or anything ever written when it comes to giving people permission to be and stay free if they want to be free.
     
  5. Monetary

    Monetary going above and beyond PREMIUM MEMBER

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    Soulosophy and Mardukson,

    What I posted were suggestions from the author of that article as to who or what caused the economic crisis we see ourselves in. It does not state WHY. I believe your posts in this thread seek to point out why this "crisis" is occurring. And that is fine by me.

    Could you also point out some solutions you've come across in your reading or research?

    One thing I've noticed...not that it's bad...but people can point out who and why but never a solution to address it. It would be nice to see solutions along with who and why besides "stay prayed up" and "head for the forest or mountains."

    If GOD gave us the "will to choose," why aren't we choosing to find a way to reverse or stop their plans? Why do we sit and wait on the return of Jesus when GOD has given us the "will" to prevent this?

    Just wondering.
     
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