4 years after the crash, what have we learned?

[rubato]

The countries which were not effected by the housing collapse and the financial disaster all have more effective regulation of the financial sector; Canada, Germany, and Switzerland.

And we're still allowing the Republicans, with the aid of a few hired Democrats, to block effective regulation of the financial sector:

http://news.yahoo.com/jpmorgan-says-tra ... nance.html

JPMorgan says trading loss grew to $4.4 billion


yrs,
rubato

[dgs49]

I have not seen any consensus opinion on exactly what regulations would have avoided the collapse of 2007-8, or what regulations would prevent it from happening again. Or even a consensus that ANY regulation would have a NET POSITIVE impact on the nation's economic stability.

The collapse was simply caused by millions of people and businesses doing everything they could to make as much money as possible. It started with people over-extending themselves on real estate, assuming that the market would keep on rising FOREVER. The Gub'mint decided that home ownership for everyone was a goal that was to be exalted over everything else.

And every business having anything to do with real estate, construction, investments, and banking did their best to exploit the situation. As they are well-justified in doing.

And we now have an Administration in Washington that still thinks that the solution to our economic mess is to KEEP BORROWING AND SPENDING MORE AND MORE MONEY, IN THE HOPE THAT THE PRIVATE SECTOR ECONOMY WILL SOMEHOW BE SPURRED INTO PROSPERITY.

What have we learned?

The answer is obvious.

[Econoline]

And we now have an Administration in Washington that still thinks that the solution to our economic mess is to KEEP BORROWING AND SPENDING MORE AND MORE MONEY, IN THE HOPE THAT THE PRIVATE SECTOR ECONOMY WILL SOMEHOW BE SPURRED INTO PROSPERITY.

What have we learned?

The answer is obvious.

And the presumptive Republican nominee for President promises an Administration in Washington that still thinks the solution to our economic mess is to KEEP GIVING MORE AND MORE TAX CUTS TO THE RICH, AND LESS AND LESS REGULATION TO BIG BUSINESS, IN THE HOPE THAT THE PRIVATE SECTOR ECONOMY WILL SOMEHOW BE SPURRED INTO PROSPERITY.

What have Republicans learned?

The answer is obvious*.



* (i.e., even less than the Democrats, since they think that a return to the policies which caused the problem will solve the problem.)

[Gob]

Australians appear to have ridden out the global financial crisis and the tough times relatively unscathed, according to a new report.

According to research undertaken by Melbourne University Australians in general have remained satisfied with their lot over the nine-year period between 2000 to 2009.

The Household, Income and Labour Dynamics in Australia Survey (HILDA) shows that the average satisfaction with life in Australia has remained stable, with teenagers starting out on life and those facing their retirement years the most satisfied.

Household income also grew in the 2008-09 financial year thanks to the stimulus package of the Rudd government.

The report said the package counteracted the negative effects of the global financial crisis with the median household income increasing by $2802.

[The Hen]

And we now have an Administration in Washington that still thinks that the solution to our economic mess is to KEEP BORROWING AND SPENDING MORE AND MORE MONEY, IN THE HOPE THAT THE PRIVATE SECTOR ECONOMY WILL SOMEHOW BE SPURRED INTO PROSPERITY.

What have we learned?

The answer is obvious.

That it worked for Australia very well, but the US is four years too late.