Greece Asks for Aid From EU, IMF
The Oxford Institute of Economic Policys Domenico Lombardi on Greeces request for financial aid to help with its debt crisis.
Duration : 0:4:0
Will history repeat itself with this global financial crisis?
An expert, who studies global financial crisis says that the world if doomed to repeat the same financial mistakes that were made, that lead to World War 1 and 2. He says, that is our global leaders continue to make the same idiotic mistakes, and the people continue to panic, then we open ourselves up to the possibility of World War 3. He says, that if you study the history surrounding the two World Wars, you’ll see that the financial disasters prior to those wars, are happening now!
The post-crisis world will be radically new. Nevertheless, the United States has accumulated such great scientific and technological potential, and such an exceptional industrial base, that it will remain the world leader – the largest economy in the world. Even though it will fall more than any other country, when it comes to the numbers, people will still have enough to live (compared to others).
Everything will crash, with the exception of the American high-tech industry. The United States will begin real production; it will return to it from abroad, from China. This will cause foreign countries and China to “fall.”
All of the previous crises were different – understandable and not general. However, this one is global; it is happening all over the world and it is unlike any previous crisis. There are no known remedies to eliminate it. People are trying to do the same thing they did in previous crises – to help the banks, but nothing will help.
The situation will force them to reveal the true cause of the crisis: that the egoistic attitudes of the involved parts of a closed system, bring about the system’s destruction. (just like cancer in a body)
France’s Lagarde Discusses Proposed Global Bank Tax: Video
April 23 (Bloomberg) — French Finance Minister Christine Lagarde talks with Bloomberg’s Susan Roberts about Greece’s fiscal crisis and the issue of a proposed global bank tax to help pay for future bailouts of the industry.
They talk at the meeting of Group of 20 finance ministers and central bankers in Washington. (Source: Bloomberg)
Duration : 0:2:50
How does the global financial crisis affect comic books?
How does the global financial crisis affect comic books? serious answers please. thank you.
All Collectibles will probably fall in price.
Costs to produce new comic books (ink, newsprint, labor, etc) will probably decline but news stand prices will be the same.
Sales/readership may increase as people try "escapism"
Who/what caused the economic collapse of 2008?
What were the top 4 causes of the economic collapse in your opinion/supported by facts?
The truth is that the U.S. has not been sustaining the economy for decades.
While it began with the Great Depression, it was cemented to occur with recovery efforts, and treaties involving the World Wars.
Social Security/Medicare/Welfare were an unsustainable burden
Regan opened the way to outsourcing jobs/businesses to where there was cheap labor
Prior recoveries from recessions were temporary fixes, for example Clinton signed a treated to borrow from the World and Hemispheric Bank for development of the hemisphere. Smarter than Obama, the majority of funds had to go to the lower end of the chain, to mini and micro businesses. The same funds went into the Tech bubble.
Then the Housing Boom – prices were artificially inflated and "equity" taken out and put into the economy.
In short, the collapse actually happened decades ago, but was artificially delayed.
In current times, the biggest single cause was the New World Order and Free Trade Agreement, which made the U.S. unable to compete and economically unfeasible on a global basis.
Is the Republican philosophy of deregulation and tax cutting what caused the economic collapse?
The last 8 years we gave massive tax cuts to the wealthy and deregulated the financial industry causing an economic bubble in the stock market, commodities, housing, etc. Doesn’t it make sense to bring back tax rates to pre-Reagan era and keep regulations in place so that growth is moderate and stable??
And yes, I blame Clinton for a lot of things too….but doesn’t mean you Republicans and your tax cutting/deregulation philosophy get a free pass.
The banks weren’t forced to give out sub-prime loans, they were handing them out like candy! Come on Republicans, don’t try to distort the situation here. The reality is that if the loaning institutions were forced to give out loans to qualified applicants, we wouldn’t be in this mess.. This is an example of where REGULATIONS are GOOD.
I think a lot of people are to blame. However, Clinton left the U.S. in a surplus. republicans, you can look it up if you don’t believe me. Bush drove our national debt to record high with trillions of dollars in debt with China and 10 billion/month to pay for war in Iraq. I do blame republicans more than democrats, and I’m republican but I had to vote for Obama. The tax cuts did not help the economy whatsoever. My republicans blame it on the media even though statistics show the facts.