What no one is saying about the mortgage mess

[foodcritic]

Originally Posted by willie

If gasoline stayed at around $1.75 everything would have been fine. Only the fools that received home loans that were impossible for them to repay would have eventually been hurt. We could have even survived the stupid decision to use our food crops to make Ethanol but that decision combined with $140 a barrel of crude hurt everyone. $50 to fill a compact car's tank will turn a lot of budgets upside down.

Lack of our own energy is the root of our problem.

I think that gas was a factor...a small factor. If you listen to the video you, he does not mention fuel as a factor. Again it was a factor I just don't think, knowing what we know about housing, that it was as big a deal as originally thought......

[somdrenter]

Originally Posted by foodcritic

I think that gas was a factor...a small factor. If you listen to the video you, he does not mention fuel as a factor. Again it was a factor I just don't think, knowing what we know about housing, that it was as big a deal as originally thought......

I think the rise in fuel prices was an effect, not a cause. Once speculators fled the housing bubble, they took their money and bet it on oil, thus driving up the price. The increase in price (due to speculation) further eroded an already shaky economy.

Once fuel prices reached a level to effect driving habits, it was just another indicator of how volatile oil prices can become and once again the speculators fled and/or lost their shirts.

[chernmax]

Originally Posted by Beta84

People might "ignore" the housing crisis with mortgages, but that's what started the entire economy slip. Thank you, sub-prime mortgages!! Whoever came up, encouraged, and profitted from that idea should be shot.

Watch These, especially the end of the second and listen to Clintons own words!!!