Stimulus plans and the world

[Cruelbreed]

http://www.iht.com/articles/2009/01/29/business/borrow.4-419037.php

It raises some good questions. Why borrow more, when it's borrowing that got us into this mess? It seems most of the world blames the United States for this crisis. I also read an article that mentions that all the money will have to be spent on US made items, which doesn't really make europe too happy. I'm not sure if it's time for governmental protectionism, but I do think it's time that Americans think about where they're buying their goods from.

[Scott]

was thinking the same definatly worth thinking where they buy their goods from.

I stumbled upon this post from a guy

The credit crunch started last year August in the U.S. when the sub-prime mortgage market started seeing a high volume of failures. Loads of homebuyers had their homes repossessed because they couldn't keep up with the payments and mortgage lenders lost a lot of money, some went bust. Money that they borrowed from funds/banks wasn't able to be repaid, so banks were scared to lend anymore money. This caused caused as severe lack in liquidity in the financial sector which rippled into the financial sector of other countries and then into other industries.
I blame whoever thought the sub-prime mortgage market was a good idea. But also the fact that investment banks were dealing in complex derivatives, some of which were mortgage backed, left them vulnerable without them even really knowing.


so theres your answer blame the guy that thought sub-prime mortgage market was a good idea.