WarrenJ Posted June 2, 2009 Report Share Posted June 2, 2009 Most of the bright folk here understand what happened, but are often asked by friends, "Wut happened?" Here is an EXCELLENT slideshow demonstrating "Wut happened." The next time a friend asks THAT question, simply email them this. Some tongue-in-cheek humor included. Tell them to click on "Start the Tour." http://www.businessinsider.com/henry-blodg...collapse-2009-5 Regards, Warren There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
Texas Jim Posted June 2, 2009 Report Share Posted June 2, 2009 Very interesting slide show. I agree with it...the lenders went nuts...after gov prodding of course and seeing all of the UICK MONEY they could make. They never gave a thought about the long term ramifications of what they were doing. I was in the residential real estate business for a number of years. I bought older houses...fixed them up and resold them. Quit doing that in the mid 90's. Link to comment Share on other sites More sharing options...
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