Rantings and tirades of a frustrated economist.
I've a random favor to ask but, I understand entirely if it's asking too much. I just figured it was worth a shot.I've got a presentation to give tomorrow for my college political science class where I offer a conservative argument to account for the factors behind the economic/financial crisis. I was going to overnight your book for reference but, I realized I probably wasn't going to get it in time because of Good Friday (no joke-that's not lip service). Point is, my professor is a socialist and I want to hand him his leftist ass. So, if I send you a copy of my argument, would you be willing to critique it?
Well, it's going to be a rush, but here's the quick one two;I don't believe the CRA is to be blamed. It didn't help, it certainly did hurt, but the key reason the whole economic crisis occurred is because Americans are becoming too lazy to actually produce the wealth they need to consume the amounts they want. This is A SOCIALIST ideal, NOT PAYING FOR WHAT YOU CONSUME. So your professor and ef off as far as I'm concerned. But he will be right in blaming greedy, scumsucking bankers and mortgage brokers (they are to blame too). But the underlying reason is the degredation of American society to not work for what they want (a very socialist ideal).Ergo, they borrow it from their houses and other asset bubbles (stock market bubble circa Dotcom Mania).If you want, look up "The Pie Chart of Blame"Shoot me the argument and I'll critique it, CAPTcapitalism@yahoo.comBut if it's due tomorrow, cripes, it's going to be tough getting this all in. Additionally, I do not wake up before 10AM.
Thanks. Thanks a bunch. I knew I probably wasn't going to be able to get it to you before I had to give the presentation but, I would still like you to give me some feed back.I'll shoot you an e-mail by the weekend, if that's okay.Sincere thanks, (again)M.
Hey Anonymous. It's too late to help with your homework assignment, but I'm sure Cappie gave you great advice.Here's my take on how the crisis unfolded, going back over 75 years:http://powinca.blogspot.com/2008/09/whos-responsible-for-this-housing.htmlGeorge W. Bush's (limited) role in the crisis:http://powinca.blogspot.com/2008/10/george-bushs-role-in-housing-crisis.htmlWhen the crisis started:http://powinca.blogspot.com/2008/10/when-did-housing-bubble-start.htmlOn the "American Dream":http://powinca.blogspot.com/2008/10/american-nightmare.htmlAn interesting story of a housing crisis "victim":http://powinca.blogspot.com/2008/10/shooting-lessons-for-addie-polk.htmlCappie is right that CRA didn't "cause" this crisis, but it was one corroded link in the entire chain of events.