269-365 - 9/26/08 The Market Is Not Functioning Properly

EXPLORE #36 -- Welcome, Consumerist readers!!

  • Consumerist Dot Com 7y

    Can say that again.
  • Pete Howard 7y

    can't argue with that.
  • Laura Gizinski 7y

    Damn right!
  • Laurie Hall 7y

    Ian, congrats on explore!!!! Way to go! Great shot, and unfortunately so true.....
  • Omiso 7y

    Sorry to disagree.. the market IT is working perfectly.. it is exploiting workers around the world and transferring the wealth to the wealthiest. That's what is supposed to happen right? ;-)
  • The Joy Of The Mundane 7y

    *lol* Well, in that light, it really is running pretty damn smoothly.
  • JC Rockwalski 6y

    Hi, I'm an admin for a group called Global Economic Crisis, and we'd love to have this added to the group!
  • Ryan Tew 6y

    While it would be nice to say "gee the free market's caused all this" that is simply an easy scape goat at this point - one which the new administration and congress would like most of us to swallow/believe. however the real truth lies a bit further beyond that surface analysis. What really got all this started were a few government induced policies that encouraged lenders to get heavily involved in sub prime loans - then we can look at the fact that the Fed kept interest rates unusually low throughout this period coupled with the fact that congress and white house pushed "Home ownership" like it was a tenant of god or something.

    Once the federal govt. and the fed had set things in motion, well greed took over W.S and mortgage brokers from coast to coast and around the world.

    Had they (govt/fed) NOT set this stage what would have happened? Well we would have avoided the insane bubble and subsequent popping - in lieu of that it would have simply been slower more natural and balanced growth where there was real demand and not all this easy credit.

    Anyway I just don't like to see simple "it was the market's fault" when in reality government set the stage for the whole thing - perhaps unintentionally since their initial efforts were 'noble' (increased home ownership) but good intentions don't always justify the means and now look where we are.

    Damn that was a long as comment for such a seemingly simple photo. <<<<<smack me.
  • Wasili 6y

    yes - we have some disturbances
  • IrieTaikonaut 6y

    capitalism is not the conspiracy of a few...it works cause WE WORK...^^
  • Damian Gadal 5y

    Hi, I'm an admin for a group called Great Recession, and we'd love to have this added to the group!
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Taken on September 26, 2008
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