26 September 2008

Will the USA Financial Disaster Affect Canada?

In this show we look at the USA credit and banking debacle that is quickly threatening to turn the USA into a have-not, past its prime, "super"-power on the world stage.



Banks are closing down left, right and center, and Big Brother has to come in and give lots of public cash to private institutions that could NOT do their job properly to save them from themselves! Does anyone else think that that land of the free and home of the brave, the bastion of rugged individualism should NEVER let this come to pass?!

We examine the issue from a Canadian perspective, and try to determine why the shit will hit the fan in Canada, (even though lots of people within Canada say it could never cripple this country like it did the USA).


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6 comments:

Anonymous said...

how sub-prime works:
http://docs.google.com/Present?docid=ddp4zq7n_0cdjsr4fn&skipauth=true

Anonymous said...

how sub-prime works:
http://docs.google.com/Present?docid=ddp4zq7n_0cdjsr4fn&skipauth=true

fixed the link

Anonymous said...

Go now take out your savings and buy Maple Leaf 1 troy ounce gold bullion coins! Go now!

RadioFreeG said...

Thank you for the posted links, but they still don't work. One is underlined but does not show up as a link, and the other one is just text. They seem to point to the same place, and I would like to have them be functional for visitors.

Hope they get fixed up soon.

Thanks for posting!

Soundwave said...

That bail-out was a huge mistake in judgement. It was a reward to the banks for their greedy and underhanded ways. What ever happened to actions and consequences?

They ripped off the poor, and now they are getting a reward. I don't see joe shmoe who lost his house getting any money.

I can easily see this happening again in 10-15 years.

I think the severity was way over blown. Comparisons to the Great Depression were stupid and incorrect. The bail out should not have happened. They should have let the financial industry cannibalize each other.

For $700 billion, they have mortgaged their future, and at the same time become a socialist state.

Just fucking wonderful.

RadioFreeG said...

I don't know if the Depression connection was as far out in left field as you say. With no credit available, no expansion is available and people have to sell hard assets to make payments. Production ramps down and it takes a while for people to purchase new things. It would not have lasted 10+ years like in the 1930s, but it have to work its way through the system.

I do agree that the $700 Billion should not have been given to the poeple that mismanaged the funds and caused the situation. If the USA is a true freemarket, people have to be allowed to fail.

Every investment carried some risk, so people had money invested and lost. Kind of hard to say they did not see the risk in investing.