Whose fault is our unofficial recession?

Question

It was a story on Yahoo!, but I couldn't be bothered at this time of day to read the whole thing thoroughly.

Answer 1

The Fed and the bunch of predatory lenders who joined to the millions of irresponsible people who spent what they didn't have without the ability to pay it back. These put themselves in economic highwater, convinced by the lenders who like sharks knew they could take advantage on the low rates the Fed imposed while sitting back and watching the bubble grow and grow. It bursted, and now I am one of those who can sadly say: I told you so, sniff!

Answer 2

People aren't buying enough Culo...I mean, Coke.

Answer 3

Essentially it's the public's fault for not spending money, but there are millions of factors that affect that for each person individually, so there's no solid answer.

Answer 4

US govt. Why? It friggin created two inflationary bubbles that were supposed to keep the US economy from falling apart. When the first one (stock market bubble of the 1990s) popped, a new one (the current real estate bubble) when the first bubble pop to keep the US economy from exploding. Now that the second bubble has popped (I bet most answerers will tell you the details), it can't do anything. Debt and spending is all the US economy is and with very little money in banks. Why does this happen?

1. The US govt has had (since the 1980s) a non-stop propaganda campaign running telling people to waste money as if there was no tommorrow and to borrow money like it was worthless when they didn't have anything in the bank. Now the US govt moves the lending level up a notch from credit cards: Irresponsible lending policies for morgages + artificially low interest rates + trillions of $$$ in new liquidity so there is a huge money supply therefore low interest rates.  

2. Everyone except for people in third world countries/Asian countries would be stupid enough to fall for this kind of a propaganda campaign.

Answer 5

Short story: the democrats took over congress in 2006. Everything was fine up until then.