The Instigator
Annjam
Con (against)
Tied
0 Points
The Contender
JKL
Pro (for)
Tied
0 Points

The 2008 U.S. Economic Collapse on the U.S. Stock Market & Federal Reserve System

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Voting Style: Open Point System: 7 Point
Started: 2/3/2015 Category: Economics
Updated: 2 years ago Status: Post Voting Period
Viewed: 584 times Debate No: 69356
Debate Rounds (5)
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Annjam

Con

The U.S. Economic Collapse on the United States Stock Market and Federal Reserve System has devastated millions of U.S. Citizens. This great recession raised inflation rates, cut back on U.S. Budgetary spending, and increased U.S. Aid to Foreign Countries. In fact, the Federal Government audited the United States Federal Reserve Bank and, the United States Federal Reserve Board of Governors and, privatized the Federal Reserve System. The Federal Reserve System is not govern by the United States Department of Treasury instead, the Federal Reserve Bank is privately owned by an independent contractor. In my opinion the Federal Reserve System is contracted with several foreign financial markets such as South African Reserve Bank. The South African Reserve Bank (SARB) is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920", as a direct result of the abnormal monetary and financial conditions which World War I had brought. The SARB was only the fourth central bank established outside the United Kingdom and Europe, the others being the United States, Japan and Java. ( http://en.wikipedia.org...) My hypothetical question is the foundation of the relations between the U.S. Federal Reserve Bank and South African Reserve Bank based on ethical labor practices; or is this financial system corrupt? I can only assume that the relations between U.S. Federal Reserve Bank and South African Reserve Bank are founded on unfair labor practices as a result of an unequal distribution of wealth and prosperity. Since the Dow Jones is currently in a financial status of recession and the U.S. Budget Deficit is in the Trillions to the World Bank. Why? The Great Recession is a term used to describe the general economic decline observed in world markets around the end of the first decade of the 21st century. The exact scale and timing of the recession is debated and varied from country to country. In terms of overall impact, the IMF concluded that it was the worst global recession since World War II. (Great Recession|(C) 2015: http://en.wikipedia.org...) In fact, the U.S. Global Realtor Century 21 is audited and no longer contracted with the U.S. Government as a result of the housing bubble that burst in 2008. In my opinion the U.S. Government is financing foreign colonies in Africa as a result of U.S. Citizens being underpriviledged to build infrastructures in Africa such as public transportation, automotive industries, Consolidated Gas Company, Edison Electric Company, General Electric Company and much more. In fact, these public utility corporations are corrupt in the United States and are merged in with U.S. Government Contractors. For example; With the summer 2008 drawing to an end, we figure it's time to update the three-part series we published in June on how the housing bubble grew and popped. The series, recalls reporter Zachary Goldfarb, examined excesses in mortgage lending, the exotic Wall Street securities that masked the real risks of the bubble and made the bust so crushing, and how the downturn touched the lives of ordinary Americans. The report also looked at the government's response -- first restrained, then aggressive. (The Housing Bubble, Still Burst|(C) 2008: http://voices.washingtonpost.com...) In my opinion the Realtor's implicated in the corrupt scandal are not just local contractors but possess corporate offices in foreign countries such as, Sotheby's International Realty alias Century 21 DuPont Realtor's is comprised of U.S. Properties in a South African region. Website Link: http://www.sothebysrealty.com...
JKL

Pro

Oh no did STOCK market go BOOM BOOM??! A tradgedyx.

Bee
0.0

You made a trajic out of me you trajic bee spit a flow on the JOEJOE
Debate Round No. 1
Annjam

Con

JKL,

Obviously, your not serious. But its really a global issue that all the United States Banks failed even closed down. In fact, these collapses didn't only affect the United States Stock Exchange and Federal Reserve Bank but it also affected the United States Labor market for commercial industries and corporations.
Debate Round No. 2
Annjam

Con

Annjam forfeited this round.
JKL

Pro

JKL forfeited this round.
Debate Round No. 3
Annjam

Con

Annjam forfeited this round.
JKL

Pro

JKL forfeited this round.
Debate Round No. 4
Annjam

Con

Annjam forfeited this round.
JKL

Pro

JKL forfeited this round.
Debate Round No. 5
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