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re: The Last Time The Price Of Oil Crashed Like This?
Posted on 12/22/14 at 3:07 pm to Ole War Skule
Posted on 12/22/14 at 3:07 pm to Ole War Skule
quote:
the SPIKE in commodity prices (oil, food etc) is what popped the housing bubble and lead to the recession.
Ummm...lolno. The subrime mess lead to the housing bubble popping. People were literally buying houses with notes that ate up 80% of their monthly salary.
You can thank Clinton for loosening the subprime restraints and banks for learning how to exploit it. They would bundle hundreds of thousands of mortgages they knew were bad but passed the subprime standards Clinton set and sell them on the market for tons of money.
3
Posted on 12/22/14 at 3:08 pm to stout
quote:"Too Big to Fail" followed the business side of the crash... really good movie.
The subrime mess lead
Posted on 12/22/14 at 3:09 pm to stout
quote:
The subrime mess lead to the housing bubble popping
Right. Meaninf people were leveraged to hilt. When you're leveraged so much, you become much, much more sensitive to commodity prices. Even the slighest uptick is going to wreak havoc.
Posted on 12/23/14 at 2:51 am to stout
quote:
Ummm...lolno. The subrime mess lead to the housing bubble popping.
not quite Einstein...the sub prime mess CREATED the housing bubble, what caused it to 'pop' was the increase in costs of food and fuel....those who had borrowed more than they could afford had zero cushion to absorb the increased commodity costs and began defaulting on loans...the pop
you're out of your league here junior
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