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What causes a recession?

sllewuy
Posts: 89
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12/17/2009 9:55:06 AM
Posted: 6 years ago
what factors caused this recession? I am still in high school and my teacher tells me that George Bush is the Sole reason why we are in this recession is that true?
Cerebral_Narcissist
Posts: 10,806
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12/17/2009 10:04:24 AM
Posted: 6 years ago
At 12/17/2009 9:55:06 AM, sllewuy wrote:
what factors caused this recession? I am still in high school and my teacher tells me that George Bush is the Sole reason why we are in this recession is that true?

I think you should lodge a formal complaint with the school board. No one likes to bash Bush as much as I do but that's just pathetic.

No, it's not true, but someone more educated on the economy than me will go into details.
I am voting for Innomen because of his intelligence, common sense, humility and the fact that Juggle appears to listen to him. Any other Presidential style would have a large sub-section of the site up in arms. If I was President I would destroy the site though elitism, others would let it run riot. Innomen represents a middle way that works, neither draconian nor anarchic and that is the only way things can work. Plus he does it all without ego trips.
sllewuy
Posts: 89
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12/17/2009 10:09:57 AM
Posted: 6 years ago
At 12/17/2009 10:04:24 AM, Cerebral_Narcissist wrote:
At 12/17/2009 9:55:06 AM, sllewuy wrote:
what factors caused this recession? I am still in high school and my teacher tells me that George Bush is the Sole reason why we are in this recession is that true?

I think you should lodge a formal complaint with the school board. No one likes to bash Bush as much as I do but that's just pathetic.

No, it's not true, but someone more educated on the economy than me will go into details.

My entire class is buying it though. My whole class believes that Bush is the main responsibility for the recession because of the war. But has War ever really started a recession didnt WW2 save us frm the great depression?
Cerebral_Narcissist
Posts: 10,806
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12/17/2009 10:22:23 AM
Posted: 6 years ago
That is pretty bad, I think personally that you, or your parents should lodge a formal complaint. It must be difficult for a teacher to completely exclude their bias, but to just spout propaganda is wrong.
I am voting for Innomen because of his intelligence, common sense, humility and the fact that Juggle appears to listen to him. Any other Presidential style would have a large sub-section of the site up in arms. If I was President I would destroy the site though elitism, others would let it run riot. Innomen represents a middle way that works, neither draconian nor anarchic and that is the only way things can work. Plus he does it all without ego trips.
MistahKurtz
Posts: 400
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12/17/2009 10:27:49 AM
Posted: 6 years ago
Oh let's not get into this BS;

George Bush caused the recession.

He is not the sole person to blame, but he presided over 8 years of a bubble forming and did nothing to stop it.

He is to blame only because it was his responsibility to prevent it and he did not. If you want to get precise, it was the bank's fault. Watch this;

http://www.vimeo.com...
GeoLaureate8
Posts: 12,252
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12/17/2009 10:28:14 AM
Posted: 6 years ago
George Bush? Lmao. It was the Federal Reserve. Not that there's a difference though.
"We must raise the standard of the Old, free, decentralized, and strictly limited Republic."
-- Murray Rothbard

"The worst thing that can happen to a good cause is, not to be skillfully attacked, but to be ineptly defended."
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mattrodstrom
Posts: 12,028
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12/17/2009 10:37:00 AM
Posted: 6 years ago
At 12/17/2009 10:27:49 AM, MistahKurtz wrote:
Oh let's not get into this BS;

George Bush caused the recession.

He is not the sole person to blame, but he presided over 8 years of a bubble forming and did nothing to stop it.

He is to blame only because it was his responsibility to prevent it and he did not. If you want to get precise, it was the bank's fault. Watch this;

Hey Mistakurtz, do you remember this??

http://www.nytimes.com...
"He who does not know how to put his will into things at least puts a meaning into them: that is, he believes there is a will in them already."

Metaphysics:
"The science.. which deals with the fundamental errors of mankind - but as if they were the fundamental truths."
mattrodstrom
Posts: 12,028
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12/17/2009 10:39:44 AM
Posted: 6 years ago
Who killed that again? oh yeah Mr. Barney Frank, Dem. financial big shot, who see's no problem with the ridiculously unound loans Fannie and Freddie gaurantee.
"He who does not know how to put his will into things at least puts a meaning into them: that is, he believes there is a will in them already."

Metaphysics:
"The science.. which deals with the fundamental errors of mankind - but as if they were the fundamental truths."
sllewuy
Posts: 89
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12/17/2009 10:43:12 AM
Posted: 6 years ago
i would like links or explanations on how the recession was started I cant stand having him yell at my face anymore of how I am an idiot for thinking differently.
mattrodstrom
Posts: 12,028
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12/17/2009 10:46:50 AM
Posted: 6 years ago
At 12/17/2009 10:43:12 AM, sllewuy wrote:
i would like links or explanations on how the recession was started I cant stand having him yell at my face anymore of how I am an idiot for thinking differently.

Ridiculously Bad housing loans* + insecure financial happenings = MELTDOWN!

(*As brought to you by Dems in an effort to graft social programs into the markets)
"He who does not know how to put his will into things at least puts a meaning into them: that is, he believes there is a will in them already."

Metaphysics:
"The science.. which deals with the fundamental errors of mankind - but as if they were the fundamental truths."
johngriswald
Posts: 1,294
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12/17/2009 11:42:49 AM
Posted: 6 years ago
At 12/17/2009 10:27:49 AM, MistahKurtz wrote:
Oh let's not get into this BS;

George Bush caused the recession.

He is not the sole person to blame, but he presided over 8 years of a bubble forming and did nothing to stop it.

He is to blame only because it was his responsibility to prevent it and he did not. If you want to get precise, it was the bank's fault. Watch this;

http://www.vimeo.com...

Shows how ignorant you are of economics and how our government and economy works. The president is nothing more than a figure head you fool.
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johngriswald
Posts: 1,294
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12/17/2009 12:07:42 PM
Posted: 6 years ago
(Everyone on the Federal Reserve board) for not mopping up the liquidity they put into the market after the .com bubble. Which led to a debt-based spending because there was no incentive to save due to the low interest rate(consumers who took the loans they couldn't pay and banks who lent them the money). Everyone who made risky credit swaps (derivatives) because the oversight from them was removed (senate + representatives during Clinton's last term everyone who was in office up until that point). And the people who insured those risky loans/credit swaps (insurance companies such as AIG). If your parents have a 401k, pension plan, retirement plan etc. Odds are they own of the companies that screwed up be it the banks, the insurance companies, etc. Odds are that they also are US citizens and thus have a duty to pay attention to what laws and legislature is passed. It is freely available to everyone.

The point is that everyone is responsible. Be it the small stock owners (who have a vote in what a company does), voters, etc. Yes some are more largely to blame than others.
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Sylux
Posts: 290
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12/17/2009 12:08:33 PM
Posted: 6 years ago
A recession is caused when I walk up to the economy and go "rawr."
"Can you see? Do you know?
The string behind you, it's shiny and pretty.
Where is my string.
Give me because I don't know.
Give me your string.
Give me everything."
-grasshoppa
JBlake
Posts: 4,634
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12/17/2009 12:12:28 PM
Posted: 6 years ago
At 12/17/2009 12:08:33 PM, Sylux wrote:
A recession is caused when I walk up to the economy and go "rawr."

Congratulations, sir. You have just won this thread.
MistahKurtz
Posts: 400
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12/17/2009 2:35:00 PM
Posted: 6 years ago
At 12/17/2009 10:37:00 AM, mattrodstrom wrote:
Hey Mistakurtz, do you remember this??

http://www.nytimes.com...

Sure. The first sentence is also;

"The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago."

I'm not absolving anyone from responsibility. Barney Frank was ranking democrat on the house financial services committee, and Bill Clinton implemented the framework for the subprime mortgages to fester, but Bush is absolutely more responsible.

At 12/17/2009 12:07:42 PM, johngriswald wrote:
(Everyone on the Federal Reserve board) for not mopping up the liquidity they put into the market after the .com bubble. Which led to a debt-based spending because there was no incentive to save due to the low interest rate(consumers who took the loans they couldn't pay and banks who lent them the money). Everyone who made risky credit swaps (derivatives) because the oversight from them was removed (senate + representatives during Clinton's last term everyone who was in office up until that point). And the people who insured those risky loans/credit swaps (insurance companies such as AIG). If your parents have a 401k, pension plan, retirement plan etc. Odds are they own of the companies that screwed up be it the banks, the insurance companies, etc. Odds are that they also are US citizens and thus have a duty to pay attention to what laws and legislature is passed. It is freely available to everyone.

The point is that everyone is responsible. Be it the small stock owners (who have a vote in what a company does), voters, etc. Yes some are more largely to blame than others.



I understand, thanks, and maybe you should reserve your stupid attacks for posts you've actually read and understand.

First, it's pretty obvious that the president is not just a figurehead, that's just stupid. The president had the power to demand regulation on the banks that were doing this risky lending, and he chose not to. He put Ben Bernanke and Henry Paulson in charge, even give their close ties to the banks. He continued the foolhardy economic deregulation pioneered by Reagan and continued by every other president since. I blame Bush because he presided over an easily preventable disaster.

I blame him just like I blame him for ignoring the countless 'Bin Laden intending to attack New York' memos that came across his desk. Sure it was other people's job and he's not responsible for Bin Laden's actions, but he did nothing to prevent the immediately foreseeable.
wjmelements
Posts: 8,206
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12/17/2009 3:19:08 PM
Posted: 6 years ago
Recessions are caused by booms of overconsumption usually initiated by government policy. In this case, it was the artificially low interest rate that caused overlending, or more simply, overborrowing, that was unsustainable.
in the blink of an eye you finally see the light
Republican95
Posts: 111
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12/17/2009 3:31:47 PM
Posted: 6 years ago
Simple, recessions are cause by the natural cycles of bubble-and-burst in a somewhat-free economy.

However, outside factors can speed-up the process (monetary manipulation, intrusive government), while others can slow it down (low-key government, small-business growth).

Recessions, depending on their severity, last from between six months to four years.

Key signs that the economy is in recession:

a) lack of consumer confidence
b) high unemployment
c) drop in stocks
d) lower profit-margins by corporations

The current recession, in my opinion, was caused by legislation enacted by President Carter and President Clinton (both Democrats). It required banks to grant mortages to those who couldn't nessicarly afford them. After a while, these people couldn't pay their mortages and they foreclosed.

Timeline of Current Recession:
a) Fannie Mae and Freddie Mac go under
b) Other stocks drop as a result
c) Media blows problem out of porportion, lack of consumer confidence
d) Due to the lack of confidence, credit is frozen
e) Less profits by corporations
f) People get laid off
g) Government starts massive spending efforts
h) High inflation leads to prolonged recession

Does that help?
Volkov
Posts: 9,765
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12/17/2009 3:41:04 PM
Posted: 6 years ago
At 12/17/2009 3:31:47 PM, Republican95 wrote:
The current recession, in my opinion, was caused by legislation enacted by President Carter and President Clinton (both Democrats). It required banks to grant mortages to those who couldn't nessicarly afford them. After a while, these people couldn't pay their mortages and they foreclosed.

So, um, the three or four Republican Presidents inbetween those various Democratic Presidents have no blame in this at all? Not even for failing to repeal the legislation that you say Carter and Clinton put in? (Clinton is the funniest one because, you know, the Republicans controlled the legislatures during that time, lol)

In other words, your assigning blame based on partisan rhetoric. I don't disagree with what you said caused it - banks being forced to give mortgages to those that couldn't afford it - but the blame doesn't rest solely on the Democrats, unless the Democrats have controlled the USA since the 1970s.
MikeLoviN
Posts: 746
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12/17/2009 3:49:31 PM
Posted: 6 years ago
At 12/17/2009 3:31:47 PM, Republican95 wrote:
The current recession, in my opinion, was caused by legislation enacted by President Carter and President Clinton (both Democrats). It required banks to grant mortages to those who couldn't nessicarly afford them. After a while, these people couldn't pay their mortages and they foreclosed.

LOL, what a hilarious, predictably partisan response. If Carter and Clinton were the problem, then why didn't Reagan and Bush (respectively) do anything about it? I don't want to start pointing fingers, but I'm quite positive that the last two major recessions have happened under the "watchful" eyes of the Republicans.

Simply put, deregulation leaves room for greed to take over. As long as banks and other financial corporations keep looking to bump short-term profit margins without regard for the future, the bubble-and-burst cycle is going to continue.
wjmelements
Posts: 8,206
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12/17/2009 4:46:55 PM
Posted: 6 years ago
At 12/17/2009 3:31:47 PM, Republican95 wrote:
h) High inflation leads to prolonged recession

Incorrect. Inflation caused the recession. The recession is an instance of deflation. The only reason we aren't actually experiencing any is the low-ridiculous interest rate, keeping the bubble afloat.
in the blink of an eye you finally see the light
studentathletechristian8
Posts: 5,810
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12/17/2009 6:47:23 PM
Posted: 6 years ago
At 12/17/2009 6:45:50 PM, Nags wrote:
At 12/17/2009 6:25:58 PM, sllewuy wrote:
was the war in iraq a cause of the recession?

In a word, no.

Wars usually bring a nation out of a recession. In a word, agreed [with Nags].
johngriswald
Posts: 1,294
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12/17/2009 9:02:37 PM
Posted: 6 years ago
At 12/17/2009 10:27:49 AM, MistahKurtz wrote:
Here's how uneducated I am about how our economy works, insert blame the president line.
At 12/17/2009 12:07:42 PM, johngriswald wrote:
Your an idiot, intelligent info goes here

First, it's pretty obvious that the president is not just a figurehead, that's just stupid. The president had the power to demand regulation on the banks that were doing this risky lending, and he chose not to.
Last I heard the president has 0 legislative powers except the power to veto.

He put Ben Bernanke and Henry Paulson in charge, even give their close ties to the banks.

I hope you're not going to make the ridiculous assertation that Bernake has done a poor job?

He continued the foolhardy economic deregulation pioneered by Reagan and continued by every other president since
Pretty sure he never wrote any bill.

I blame Bush because he presided over an easily preventable disaster.
Really, if it was so easily preventable and identifiable then perhaps you'd like to link me to your predictions that occurred years ahead of time?

I blame him just like I blame him for ignoring the countless 'Bin Laden intending to attack New York' memos that came across his desk. Sure it was other people's job and he's not responsible for Bin Laden's actions, but he did nothing to prevent the immediately foreseeable.

Again I fail to see how that falls onto the president's lap. Do cite some "memos" that came across his desk.
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johngriswald
Posts: 1,294
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12/17/2009 9:05:36 PM
Posted: 6 years ago
At 12/17/2009 4:46:55 PM, wjmelements wrote:
At 12/17/2009 3:31:47 PM, Republican95 wrote:
h) High inflation leads to prolonged recession

Incorrect. Inflation caused the recession.
Lol wut
http://inflationdata.com...
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comoncents
Posts: 5,647
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12/17/2009 9:28:49 PM
Posted: 6 years ago
At 12/17/2009 9:05:36 PM, johngriswald wrote:
At 12/17/2009 4:46:55 PM, wjmelements wrote:
At 12/17/2009 3:31:47 PM, Republican95 wrote:
h) High inflation leads to prolonged recession

Incorrect. Inflation caused the recession.
Lol wut
http://inflationdata.com...

Dumb a$$ cookie recipes causes a recession!
http://www.debate.org...
johngriswald
Posts: 1,294
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12/17/2009 9:30:30 PM
Posted: 6 years ago
At 12/17/2009 9:28:49 PM, comoncents wrote:
At 12/17/2009 9:05:36 PM, johngriswald wrote:
At 12/17/2009 4:46:55 PM, wjmelements wrote:
At 12/17/2009 3:31:47 PM, Republican95 wrote:
h) High inflation leads to prolonged recession

Incorrect. Inflation caused the recession.
Lol wut
http://inflationdata.com...

Dumb a$$ cookie recipes causes a recession!
http://www.debate.org...

Yes, 100 dollar cookie recipes do :) oh chef that has been amongst the greats and deigns to compliment us with his presence.

We are lucky enough to have a genius of culinary arts with us today

Lulz.
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comoncents
Posts: 5,647
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12/17/2009 9:33:29 PM
Posted: 6 years ago
At 12/17/2009 9:30:30 PM, johngriswald wrote:
At 12/17/2009 9:28:49 PM, comoncents wrote:
At 12/17/2009 9:05:36 PM, johngriswald wrote:
At 12/17/2009 4:46:55 PM, wjmelements wrote:
At 12/17/2009 3:31:47 PM, Republican95 wrote:
h) High inflation leads to prolonged recession

Incorrect. Inflation caused the recession.
Lol wut
http://inflationdata.com...

Dumb a$$ cookie recipes causes a recession!
http://www.debate.org...

Yes, 100 dollar cookie recipes do :) oh chef that has been amongst the greats and deigns to compliment us with his presence.

We are lucky enough to have a genius of culinary arts with us today


I appreciate it!
johngriswald
Posts: 1,294
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12/17/2009 9:34:35 PM
Posted: 6 years ago
At 12/17/2009 9:33:29 PM, comoncents wrote:
I'm kinda butthurt now because I just got make fun of, so I'll just act stupid and hope that it blows over.

Oh, ok.
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