daguti + economic-recession-2008   69

House flippers triggered the US housing market crash, not poor subprime borrowers, a new study shows. — Quartz
"Mounting evidence suggests that the notion that the 2007 crash happened because people with shoddy credit borrowed to buy houses they couldn’t afford is just plain wrong. The latest comes in a new NBER working paper arguing that it was wealthy or middle-class house-flipping speculators who blew up the bubble to cataclysmic proportions, and then wrecked local housing markets when they defaulted en masse."
economic-recession-2008  real-estate  capitalism-greed  capitalism  counterintuitive 
september 2017 by daguti
He Led The Financial Bailout But Says Banks Are Still Too Big To Fail : NPR
similar to that article posted by Diana Young about pollution that that said if companies were liable for their externalities, none of the major industries would be profitable. Although this article is not pollution related, this companies are only profitable because they're externalizing their risks (socializing their risk), but privatizing their profits.
economic-recession-2008  banks  capitalism-only-profitable-because-externalizing-risk 
february 2016 by daguti
IMF data shows Iceland's economy recovered after it imprisoned bankers and let banks go bust - instead of bailing them out : worldnews
As usual, read the comments for another perspective. See this one by scalfin: http://www.reddit.com/r/worldnews/comments/39b13c/imf_data_shows_icelands_economy_recovered_after/cs21mhg "Let's make two things clear: the Icelandic banks owed money to foreign investors while the US owed money to itself and "going bust" means entering bankruptcy protection to discharge debts. Basically, Iceland told foreign investors to fuck off while the US would have been letting the savings accounts of average citizens disappear had it done the same."
countries-iceland  economics  economic-recession-2008  banks 
june 2015 by daguti
Why Ordinary People Bear Economic Risks and Donald Trump Doesn’t : politics
"The basic question is who should bear these risks. As long as the laws shield large investors while putting the risks on ordinary people, investors will continue to make big bets that deliver jackpots when they win but create losses for everyone else. Average working people need more fresh starts. Big corporations, banks, and Donald Trump need fewer."
people-donald-trump  wealth-income-distribution  economics  economic-recession-2008  debt-personal  credit-cards 
september 2014 by daguti
BBC News - Young people 'feel they have nothing to live for'
predictions, long-term-thinking = This financial crisis is going to have long term effects on a generation of people that will ripple through the economy for years to come.
economic-recession-2008  health-mental-depression  long-term-thinking  predictions  suicide 
january 2014 by daguti
Don’t Blame the Work Force - NYTimes.com
"There is a durable belief that much of today’s unemployment is rooted in a skills gap, in which good jobs go unfilled for lack of qualified applicants. This is mostly a corporate fiction, based in part on self-interest and a misreading of government data. "
corruption-corporate  economic-recession-2008 
june 2013 by daguti
Why the US is collapsing - Falkvinge on Infopolicy
Found this post back in March 2008. Curious to see how it turns out.

UPDATE 4/4/2012: It seems to be unfolding as stated...

He mentions 2 resources:
A book and a 42 minute video that I want to follow up on and read.
people-rik-falkvinge  me-stuff  money  predictions  government  finance  economy  economic-recession-2008  economics  countries-united-states-america 
march 2011 by daguti
The Checkup - Teen birth rate hits record low
"When money is very tight, all of us think harder about taking risks, expanding our families, taking on new responsibilities," Brown said. "Now I know that teens may not be as savvy about money as those in their 20s and 30s - they probably don't stress over 401(k)s like the rest of us --but many teens live with financially stressed adults, and they see neighbors and older friends losing jobs and even losing houses. So they, too, feel the squeeze and may be reacting to it by being more prudent.... Maybe part of tightening our belts includes keeping our zippers closed, too!"
economic-recession-2008  children-teens  babies  large-systems  statistics  news  2010 
december 2010 by daguti
65% in New Jersey Favor Pay Freeze For Teachers, School Employees - Rasmussen Reports™
economic-recession-2008 = the effects are still being felt as seen in this news story, April 2010
education  money  nj  economic-recession-2008 
april 2010 by daguti
Hedge Fund Manager: Goodbye ... And Think Pot - General * US * News * Story - CNBC.com
"Andrew Lahde, manager of a small California hedge fund, Lahde Capital, burst into the spotlight last year after his one-year-old fund returned 866 percent betting against the subprime collapse. "
money  wealth  open-letter  stock-exchange  economic-recession-2008 
october 2008 by daguti

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