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Well the bubble only popped because people started making a big deal out of it :P If people were more relaxed about repayments...

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The pubble sparked because the inflation was ridicilously high - The consumtion rates were incredibly high, the kind of developement isn't simply possible.

The Americans have lived in a so called ''Dino Age'' huge cars, huge houses, big everything. Lifestyle which has even in Europe been virtually impossible. But actually begun to spread atleast into Finland before the recent recession.

There was so much air in all prices because of the booming enonomy. Housing prices were too expensive for normal people to afford them, without bank loans (that would have to extended into periods up to 30 years). That kind of developement isn't simply possible.

I do agree with you post earlier that for us this holds a lot of opportunities. I mean if ever, now would be the time to buy a house. Or even a flat, because their simply cheap now. Also the interest rates are preferabely low.

The problem is that nobody knows how severe or how long this global economical recession will be. The real sufferers in this are the normal people who'll lose their jobs.

Also we don't exactly know if this turns into a severe depression, weather U.S.A will be the single major economical player after this crisis. I doubt they'll ever get back into the ''Dino Age.'' This was the end and it wont come back for them.

As far as how worried I am, I don't tend to worry, but sure, I care about humans and don't want them to suffer.

I PERSONALLY am not that concerned with the economic situation... my father has a high-responsibility position in an engineering firm that he's worked at for over thirty years, and my mother works in a public school system. The chances of them losing their jobs at this point is slim.

Looking at the world economy, however, I can definitely see things lining up to drastically change the way we live within the next few years. All it's going to take is one really fucked up event to send everyone into panic, and shit is gonna get fucked up.

Thinking long term as well, I'm going to be in school for at least two more years. At that point I'm going to go out and try and earn money any way I can; the life of a musician is not one of financial stability. I've already accepted this, but if anything it's almost comforting to know that even though I may be poor in the future, everyone else will be too.

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Educators destroy your brain,
but you don't know, so why care?
Fagotto

However, it really pisses me off when people declare that "karma" is working or some ridiculous BS like that, and just assume that the only country that is going through a recession is the USA because they don't know any better.

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"Would you choose water over wine? Hold the wheel and drive."
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I fear how big government will end up being after the end of this. Both bailouts were originally shot down, but that didn't stop them from being tried again or put into effect anyway. The government does whatever it wants, it seems.

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I agree with this.

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"Would you choose water over wine? Hold the wheel and drive."
Post Count +1