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Creditum krisis The Global Disease of 2008
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The economists
are on the verge of
a nervous
breakdown
Andsome media think that the economy might be too!
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The economy was in deep pain even
as the government pushed forwardWednesday with its latest financial rescue plan to exchange
taxpayer money for stakes in the nation's banks.
October 16th, Associated Press
"
"
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President George W. Bush reassured
Americans on Saturday about the
long-term health of the economy,insisting that the United States is still "the best place in the world to start and run a
business.
Agence France-Presse, October 18th
"
"
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still, credit - the lifeblood of the
economy - isn't flowing freely by any
means.
Los Angeles Times, October 18th, Tom Petruno
"
"
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Lets put ourwhite coats
and see how economy is.really
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lets see the symptoms
First,
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" Since January 2008, owners of stocks
in U.S. Corporations have sufferedabout $8 trillion in losses "
Source : En.wikipedia.org/wiki/subprime_mortgage_crisis
Which would cause anybody a major headache!
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" The year 2008 as of September 17
has seen 81 public corporationsfile forbankruptcy in the US "
Already higher than the 78 in 2007!
Source : Formaementis.wordpress.com/2008/09/26/economic-crisis
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One of them wascreated in 1850
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What caused such a global,
international disease?
Should we talk about contagion? Epidemic? Pandemic?
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Our system!
Internationalcorporate
executives andtraders made about$100 Billion ofincome while
losing more than$1 000 Billion.
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Whos money did they lose?
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Which pill did the Government gave
the patient?
The patient,a.k.a. The ECONOMY
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The American Governmentgave this treatment:
Injection of $700 Billionto purchase troubles mortgage assets andcontain financial crisis
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$700 billion
Is, ironically, almost the same as theDepartment of Health and Human servicesbudget for 2009
($736 Billion)
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Enough abouteconomys health
What about the people?
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What aboutthe 159 000
people wholost their job inSeptember?
http://en.wikipedia.org/wiki/Image:Homeless_-_American_Flag.jpg
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What about the 6.1
percent of people whoare unemployed?
Unemployment rate in the United States is at 6.1,highest level since September 2003
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What about the families who are
losing their house?
As the houseprices drop, thefamilies wealth
declines
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What about Lehman Brothers
shareholders and its26 200 employees?
Whos going to pay them?
Whos going to find them a job?
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What about the families and
people who cant afford foodprices raise?
Prices raised because of financialspeculators seeking quick returns.
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Is someonetalking about
THEIR health,theirlifeblood
and theirpain?
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In the event of a recession, howmany people will be below poverty?
After8 months of consecutive job losses, its called arecession
If I am right, it has been 5 months.
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Who will pay thefamilies who lost
money because ofhungry tradersand business
executives ?
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So, can we recover from thisGlobal Disease?
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Yes, we can.
