Let's blame someone for the Crisis

Source: http://www.josepino.com/?what_causes_economic_crisis   Tags: opinion discover

Who is responsible or what is causing the economic crisis?

Google provides more than 2,000,000 results (that is Two millions) but doesn't provide a good answer. My mom said "The government is responsible". My sister said: "Crisis? Economic crisis? what crisis? just go to any store, people is shopping like crazy!"
Taken from http://www.josepino.com
Even Mexican television is recommending to Mexican citizens: "Don't worry about the crisis, just keep working like slave and break your back to make some money as you always do." so they can "stay in the hole".

I'm not an expert about Economics, so I can give only my opinion about this topic.

I may say, as lots of people do, "President George W. Bush is responsible for this crisis." Bush expresses remorse that economic crisis causing unemployment and drops in 401 (k) accounts. But, is he responsible? I can't find a fact that Bush handles all economic issues and decisions about economy, so I can't figure if Bush is responsible.

Let's blame the Euro! Yeah, is more like Europe is at fault because they have a stronger currency and economy. But wait... my friend living in Europe indicates that they are also affected by the global economic crisis. Maybe the Euro is not the one to blame.

Maybe we, US citizens, are responsable for it, but America's Ambassador to Germany William Timken has rejected worldwide accusations that his country has caused the global financial crisis. Well... Maybe not.

Oh, wait! Let's blame Greenspan! I'm talking about the former chairman of the US Federal Reserve, Alan Greenspan. Supposedly, he failed to control the financial system of U.S. That's it! we have a scapegoat.

errrr... hummmm...

Now what?

Pointing fingers will help us to fix the economy? Family and friends will recover their job? Well... I guess not.

Some people is comparing the actual crisis with the Great Depression that was a worldwide economic downturn starting in most places in 1929. I guess it is worse than that one because we need more money to keep our lifestyle.

I believe we are, in part, responsible of crisis. We means, I, You, Bush, Greenspan and millions of people that doesn't learn about previous errors and mistakes. Why it happen again when we already had the experience from the late 1920's ?

Let's take an example: The oil crisis that began on October 15, 1973 was basically repeated on 2006. Why this happen? According to wikipedia on or about February 11, 1974, United States Secretary of State Henry Kissinger unveils the Project Independence plan to make U.S. energy independent, so the goal was to "achieve energy self-sufficiency for the United States by 1980 through a national commitment to energy conservation and development of alternative sources of energy."

What happen to that project? Why I had to pay more than $4.00 USD, a few monts ago, for each gallon of gas?

I guess is hopeless to believe Obama will end this crisis. It's easy to make a mess with a country but not easy to fix it, so Obama: Please do your best. Don't lead this country to the same hole where we have to keep working like slave and break your back to make just $5 USD per day as most Mexicans do.

As long we don't learn about our history, we will fall again and again. I think there is not just a single person to blame. We can't blame someone about the economic crisis.

10/01/09 - 08:05:18 Selene from Mexico wrote: Hello, good day sr you have.
I like to read your website because your interest articles, but i have to disagree with this one in particular, because indeed you do not talk about "what causes economic crisis" Just pointing all  the "popular" beliefs doesn't explain such thing. Obama is not going to fix crisis, and  there is no practical solution, because we are talking about taking someone  money (because all the money has a owner) and then give to some one else, no matter what "layer" of beliefs we are talking about, it is always hand-to-hand money.
Indeed crisis is not complicated, the complicated thing, is to change a unchangeable thing, because their nature.
Capitalism means someone (mostly of the time one single person) will have more money than you, and it's able to "invest" into, for example, a car company, television entertaiment, political campaing... And then take about 50% of total earnings for itself, and about 50% to the company.
Company means: Manufacturing, Employees, Marketing, Primal Matter and etc. What is left to you, ordinary worker? Divide all facts and substract the goverment tasks. You surely find about a large decimal number with lots of initial zeros.
If you pay attention, all this stuff means abundance, and crisis is an abundance deficency, and abundance always ends. No matter what obama neck scratchs, what economical experts do, there is not human power to get abundance back.
The abundance will be changed by another abundance as always do.
And in the process crisis grow up like a new fortress of opportunity (to capitalist).
And if we believe that our actual money system will work forever... think that we debt more than we can pay (All the world have debt), and that debt it is, money of some one else, literally "someone" else. And that money that we owe is the money that we earn and desposit in bank accounts, and that money in the bank accounts is the money that the bank will give  to you again as a house loan, car loan... funny huh? (Funniest: the bank al...
10/01/09 - 08:11:17 Selene from Mexico wrote: (Funniest: the bank always can loan 10x their internal money, this is: you with  $1 buck in pocket with a "legal" value of $10, so if you borrow $2 bucks to your litle sister to get candy you can earn $2 without spent your initial $1 buck, yay!!! magic money, and this is totally legal -only for bankers- Nice work government)
But dont worry you are not going to lose anything while we owe someone else (say bank), because they will not earn money without owers, or it is not?
P.D. Only 10% of Mexicans earn 5 dls per day, 80% about 200 or 300% that quantity and rest 10% (like carlos slim and salinas pliego) earn about 10000% that quantity.
And we can buy more food with 5 Dls a day than you in the US.
So please dont blame at Mexican people with that kind of comments because we are worried people just like you.
10/01/09 - 08:15:08 José Pino wrote: Thanks Selene, I agree what you said, but about "And we can buy more food with 5 Dls a day than you in the US." that is not correct.  You will be surprised to find that products in Mexico are expensier than US products.  I don't blame Mexican people, I blame the bad government and bad "system" that drives the economy in Mexico.

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