The Economy: Why It's In The Shitter.

One simple explanation for why we are in this current economic crisis...


(From Business Pundit.)

It is much more complex than this... But this is where it started.

Comments

Vanessa said…
And it seriously pisses me off. How is anyone supposed to get a mortgage now? Even if you have saved a respectable (meaning 30-40%) down payment?
Me said…
I know. Trust me.

And back during the boom of 2005/2006, The Husband and I were looking at housing prices in our neighborhood in Boston and we're like, "We can't afford to buy. And we're in the top 5% of income earners in the U.S." (Which just means between the two of us, we pull in more than $200k.)

If we can't afford to buy, how can so many other people afford to buy????

Something was suspect. And now, because of predatory lending and irresponsible people, it's eff-ed things up for a lot of people.

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