Comments on: What Caused the 2008 Recession?

By: Erin

Erin — Tue, 24 Mar 2009 05:18:16 +0000

Why does it all have to be one person or on group’s fault? I’m on this site to study the recession in the context of environmental stability and, so far, through all my research, it seems like the recession is the product of multiple factors including uninformed lending of money, western economic policy and society based materialism. It’s all our own fault (because you know that you too are contributing to the problem) and the only way to stop it seems to be to change our attitude towards consuming products and material goods and move towards sustainable economic growth which includes the conservation of resources to minimize the overpricing of basic natural resources.

By: Juan Rodriguez

Juan Rodriguez — Sat, 21 Mar 2009 00:41:32 +0000

Man can’t anybody read?! The simple cause was–people who didn’t deserve mortgage loans or should have not qualified for loans took out mortgage loans they couldn’t afford. It’s the Democrat’s fault for wanting to give everyone the opportunity to “own the American dream” and the Republican’s fault for allowing it to happen. What about the stupid people like me who were cautious and who have always paid their bills and mortgages ON TIME and lived within their means? I’m not standing in line for a bailout. We are the “Forgotten”–the ones who simply live the way they should live without getting greedy and who mind their own business and don’t expect a handout or a bailout when they screw up.
Free economy can fail once in a while. Things were WAY out of whack.

By: Mel Bentley

Mel Bentley — Tue, 23 Dec 2008 22:33:29 +0000

According to the guy that knows everything, Rush Limbaugh its the Democrats fault because of the low interest loan programs (Freddy, Fannie etc.) started during the Clinton era. My take is that these programs were good ideas gone bad in that they started out with the usual safety devices in place i.e. documented loans, decent if not perfect credit, and a job, and over time the financial institutions put pressure on the Bush administration to loosen up the regulatory process using the old “bad for business” ploy. Comments?

By: Sowmya

Sowmya — Sun, 30 Nov 2008 14:46:35 +0000

Now, I am not an economist, but i heard a friend say that this was predicted in the 70’s. According to her, in th 70’s the US government printed too much money and put it into circulation, without having enough gold. Since, as a result, the value of the dollar was reduced to that of tissue paper, the US made a law stating that all trade in oil will be made in US$. A lot of nations agreed and formed the OPEC laws. Iraq didn’t. Hussain (R.I.P) said that they would deal with Britain in Pounds, Japan with Yen and so on.Hence the war on Iraq. Oil Prices inflated without reason and this sabotaged the growth of multiple economies. Now, I would not be too sad, since its a cycle, and a good time to invest will arrive shortly. The problem is the fact that I am broke!!
lol!!
and that in many nations, like India, the domestic market is forsaken for the sake of profits in the international market.
If you want, you can get in touch with me @
sowmyabhattacharya@gmail.com

By: Norman Kennedy

Norman Kennedy — Thu, 23 Oct 2008 10:12:50 +0000

the world bank with its corupt iluminatia are causing this reccession to control us,we know who they are and they are going to get away with it,

By: S A

S A — Fri, 10 Oct 2008 17:39:13 +0000

Quite interesting, that the main cause of the reciession is intrest only, reverse mortgage and adjustable rates which are all prohibited by Islam!! and known as Riba, they are replaced instead with Murabaha, Musharaka…etc!!!
There are many studies shoiwng that following this western econmic system of interests always end in a recession cycle sooner or later

By: Orville

Orville — Sun, 28 Sep 2008 16:45:29 +0000

Hi Christian,

Thank you for the comment.

I’m of the opinion that neither of the major political parties are competent to handle the job, especially by themselves. I think they work best where one has Congress and the other the White House as in the Clinton years. They can check each other’s worse instincts and work together to solve real problems.

I also think that no matter who wins that we’ll be in for significant economic pain for a while.

By: Christian Peralta

Christian Peralta — Sun, 28 Sep 2008 16:19:12 +0000

i think that the republicans do not know how to handle the economy and shame on bush for sending u.s sodiers to fight in iraq. i think that obama would would handle the economy better and if john maccaine wins then the u.s in alot of trouble