为什么我认为现在的人对风险认识还是很麻木

ppteam

特别是领导人。

In order to realize this, you have to understand the root cause of 2008 financial crisis which is the worst recession since 30's depression.
From the beginning of Clinton administration, he urged Fannie and Freddie to lower their standards so more and more Americans would
own their homes. This is the first step for the future time bomb. In 2008, when Clinton was questioned about this, he defended that late 90's was in a much stronger economic environment.  
What he failed to say was home mortgage loans normally mature 10-30 years. Did Bill Clinton really expect the economy would keep growing for 10-30 years?

Also, during that period many people were signing up for floating rate loans. Interest rate was low ("thanks to" Greenspan). Did Clinton realize
how difficult it would be for home owners to meet their monthly mortgage payments if interest rate turned higher (not mention economy could become bad simultaneously)?

OK, let's say Clinton doesn't understand economy and he's stupid (he's not btw). Where was his secretory of the treasury? That would be Robert Rubin. Where was he?
How could he miss this? Lawrence Summers was Clinton's senor official in treasury. Where was he? Of course later he became the next secretory of the treasury in 99.
Now Summers is the director of national economic council in O8's administration. Hello! Isn't it retarded? People should have enough reasons to worry about it.

High leverage is not a bomb, it just speedup the explosion of the bomb.

Another topic is deregulation. Summers is a big fan of it.  I am too lazy to go on.

CoolMax

原创啊，支持一下。

soulvirus

summer123

quickcow

Keep going, ...
very good ahhh

mab

Politicians only care about what happens during their administration, they may not be too keen on the long term prosperity of the whole society. Plus, voters do not care either. what system is good for human being?
They may realized it, but what can they do? No one has the political will and power to fix this mess.

源济

bushbreeze

难得PPTEAM写长文章，呵呵

dara

keke, I know house market was a big bubble in 2006 after I saw some data.

I know it  would burst like 2000 NAZ, but it is hard to guess when

soulvirus

说了白说。 偶还知道人类必定灭亡咧。 就是不知道是哪天。。。

给偶个pick吧。想捡点便宜货。

keke, I know house market was a big bubble in 2006 after I saw some data.

I know it  would burst like 2000 NAZ, but it is hard to guess when
dara 发表于 2010-2-2 23:15

kyshuishou

RedCedar

Nice.

jack3400

coexist

...thanks

happylux

顶！利益集团都只顾眼前，没人考虑长远。

unlsjtuhx

百万宝贝

guyuxiao

hbw

好文。
政治挂帅，市场配合。任期届满，股市掉头。

dara

But I think printing money would help deleverage.

Just look at O8's budget,  you know he is speeding up printing money.

In the end, he will pull out those big fishes,  but normal Americans, all they see is their hard-working earned money become toilet paper.