giftedbygod

LOL: and who guaranteed all these bad loans? Who guaranteed all the mortgages by the Law? The US Government and the FED. Are you really surprised that banks were approving nearly all mortgages when Government GUARANTEED they if house owner stops paying, the Government will buy the mortgage?! That's the very purpose for which Fannie Mae and Freddie Mac were created. To guarantee risky mortgages so even people who shouldn't get a house (lazy) would still get one. With the Government guarantee. The unintended consequence was (of course!) that banks started giving out loans to everyone.

Look for Peter Schiff videos on youtube from 2005/06/07 when he talks about it and everybody laughs at him.

And will you apply science to an angry mob burning US flags and killing because of a movie?

You have so called "social sciences", but they are pretty much useless otherwise there would be someone paying them a lots of money to figure out what will happen next for example in the Middle East.

Sciences are very limited once you get a human being with free will into the equation. And then you multiple that by culture than by genes then by experiences and then by 6 billion.

I love history. And the main reason for my love of history is love of science fiction. If Nazi Germany never happened, don't you think that the whole story would make amazing science-fiction? How you apply scientific method to history? You can analyze, but as soon as you do your results/opinions will be different than anybody else's at least at some level. It's not like we all know 2+2=4. Now try Why people voted for Hitler? Good luck with your fixed narrow-minded analytical mindset to figure this one out. You can have debates for years about it and still you won't know for sure anything. Science is for people who want the right answer right away. Life is more complex than that simplistic view.

Social insurance in Germany was Bismarck's invention. Everybody paid. One in ten lived long enough to collect any benefits. Now you will have 30% of the society to cover living cost of the other 70%. They can vote for financial pyramids in their beloved democracy as much as they want. Guess what, the ponzie schemes will still not work.

Europeans won't really have their pensions too. The same is about broken American SS system. But it is just so much easier to notice problems somewhere else. At least Chinese werent promised any pension so they save. Do Americans think what will happen if their politicians break the promise? Or pay them wii heavly inflated dollars for their benefits? Have they saved? Oh, no they trust the Government. You see how Americans are stupid and Chinese wise? How can you not save trusting that the Government will pay you pension in an old society?

Pensions made sense in young societies. They are temperorily phenomenon. Have existed for 60 years. Like communism. Gone!

In 1980s hundreds of banksters went to jail in loans&savings scandal. US went to the dogs: 1. Militarily: terrorism as tactics is just effective (especially cost-effective). US looks like it is trying to kill a fly using a machine gun. Good luck! 2. Politically: corrupt to the core. As weak as never before. 3. Economically: capitalism is really not about being in debt. It is about capital accumulation via savings. Currently, the US is the biggest debtor in the History of the World. 600% gdp - that's our total debt.

A company without an idea sounds as bad as mortgage without a downpayment.

I think that this will be quoted in the future to indicate when bubble became obvious. I mean, come on, how much money must be flying around there for free, if they are willing to fund a band of 18 year olds who don't even know what they want.