|reply to fiberguy |
Re: Some investors are not very smart.
Yeah I know sarcasm does not carry over the internet well.
Heck the US owes a Socialist country over $1,000,000,000,000. Our economy is based largely on if that country calls in its debt from the US.
No wonder when China talked at the G20 summit everyone shut up and listened.
So when you say a country in the EU that maybe hiding that it is socialist, and that said country's systems are fragile, then one must point out that even countries that are not socialist are having problems also.
The US mortgage meltdown, had nothing to do with any socialism, in fact the very thing the US stands for Capitalism, which without regulations, let the banks play dangerous games which turned into greed which caused the failure. You can only skate on thin ice so long before the bottom breaks out below you.
Now I just know that is going to bring up the CRA, and what the original intent of the CRA was, and how it was all the democrats in the 1970's fault. While the same people also forget that without the CRA in the first place most people who own homes and have no trouble paying their mortgage probably wouldn't own a home. But I mean that would require actually knowing that in the 1970's it was getting almost impossible to get a loan from a bank unless you were already quite wealthy.