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Two part economy question?
1. What got us into this mess? (the recession).
2. Economically, what lesson have we learned in the last 14 months
1 Answer
- phat tonezLv 51 decade agoFavorite Answer
1. Fed artificially lowered interest rates. We invested in the future but were tricked by low interest rates into thinking that people were saving (interest rates and savings rates in a free market would be directly correlated). The investments did not pay off because no one has any savings, hence the crash. We need to increase savings and pay off our debts to move on.
2. Nothing. Government is pandering to us all and telling us that capitalism was at fault even though we've never had capitalism and haven't even been close for about 100 years. Look up Austrian Economics and the Austrian Business Cycle Theory if you want to be one of the few who actually learn from this recession.
