>Experiences housing market crash in 2008>Somehow causes global recessionAm I missing something here?
>>78265943They were giving niggers and other low IQ, low impulse control risky demos unsecured housing loans. This was not just in America btw. Some egghead bean counters in places like Iceland were doing it too and thought they were smart and hot shit that everyone else should listen to about this.That was the actual crash and things have just continued getting worse since. There's been no recovery. It was when food started skyrocketing here in Canada.
>>78265943yeahdemocrats were in power during both of those events
>>78265943US banks have out mortgages and loans to fuckers who could never pay it back. (Sub prime mortgages). US banks trade these loans (IOUs) for money to other banks. US banks lend way more money that they actually have and have to borrow money from others. Fuckers cannot pay back loans to us banks. Banks cannot pay back money they how to other banks. People who bought the toxic loan are now fucked. Government has to spend a fucktonne to bail these banks out so taxes have to come up and more government borrowing. Banks very reluctant to lend out loans and taxes have to come up so the economy shrinks. People lose their jobs. This happens across the world. My dads friend is a banker. He said loads of them saw it coming for years. A lot of cunts in the bank kinda new these fuckers could never pay off their massive mortgage.
>>78265964No the crash was because loans were getting repackaged by Wall Street into securities that were then sold to investors. It was a house of cards. The problem was Wall Street, not that people wanted homes, blaming the least powerful people for economic collapse is the definition of bootlicking horseshit.
>>78265943The world uses the American petrodollar, and we've bombed the hell out of every other country that has tried to opt out
>>78265966No they weren't, and you were probably born post-9/11 so you weren't even sentient then.
>>78265966Subprime mortgage crisis began in 2007.Obama took power in 2008.
>>78266009I'm blaming the kikes who socially engineered the society with generations of brainwashing including (You) that somehow the niggerinos should get housing loans that they will not pay back just because ok? Otherwise it's some kind of 'cist, 'ism or 'phobia.
