Crushing Our Economy
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Who is to be held responsible for crushing our economy? You might say that no one could of done all this damage alone and that’s true, but a group of people brought our economy down and I’ll take you for a little drive through the dark tunnels of debt passed the sun filled park of stimulation to the river of They Did It.
Explanation
Our economy is a very delicate yet wondrous thing. The better it does the happier we are and the worst it does the worse things are for us. When we can make money easily the thought “How am I going to pay the bills” never even crosses our minds. I’m going to dig deep and open this up, so you’ll know how this happened and we all can work together to prevent this from happening in the future.
Unwise Spending
Our real estate markets around the United States were at a all time high for a while there. People saw that houses were going up, up, up. Everyone started to try to get their hands on a piece of land of their own. Theres nothing wrong with that at all but mortgage brokers need to set the limits. They saw this crowd approaching and said, “Lets lower the cost and interest so more people will buy houses.” They were right. When they went and did this more people saw that the housing was getting better and better and prices were getting cheaper and cheaper. They sought to get into this figuring it was a better time then ever to get a house. More people went and bought houses and the prices went up because of Supply & Demand and the interests went up along with it. now the people who had bought this houses cheap were in a bad spot. They couldn’t afford the interest rates. They defaulted on their loans that they took to buy the houses and this hurt the economy.
Why? How could that cause this mess were in?
Were in this now because the brokers got greedy. People stop spending money because they couldn’t afford it and that made it so the economy got a little worse. Then others saw the economy declining and thought, oh no, I better start saving money. This all lead to where our economy is now. Banks seeing all these foreclosures of all the properties they loaned money for stopped giving as many loans continuously harming our economy. The Brokers are the ones that put us here, they didn’t know what they were doing so we must educate our young so they know not to do what we’ve done, we must keep the integrity of america going strong.
If You Want To learn more go to: How Our Economy Got This Way
