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There are several reasons to be very concerned about this article. One is the un-encyclopedic tone of its introduction. Another is that it appears to give undue weight to the fringe "Austrian School" of economics. Yet another is that it appears to be an unnecessary (And possibly POV) fork of [ [1]].
Bkalafut ( talk) 18:10, 23 January 2012 (UTC)
Surely there should be some mention in this article about the layoffs in state and local governments that occurred in response to budget crunches at those levels? CreighGordon ( talk) 16:24, 8 January 2014 (UTC)
Anytime some one sinks to using expletives it convinces me that person lacks the education, upbringing or self-control to be taken seriously. — Preceding unsigned comment added by 75.134.75.111 ( talk) 03:22, 17 December 2015 (UTC)
This sentence needs more details:
"Based on the assumption that sub-prime lending precipitated the crisis, some have argued that the Clinton Administration may be partially to blame, while others have pointed to the passage of the Gramm-Leach-Bliley Act by the 106th Congress, and over-leveraging by banks and investors eager to achieve high returns on capital."
Sure, some have argued this but data needs to be cited about the real state of the mortgage market during this period.
This GAO brief,
Briefing to the Committee on Financial Services, House of Representatives
http://www.gao.gov/new.items/d0878r.pdf
plainly shows a chart (page 11) that Alt-A and sub-prime lending was level until 2003. It went up dramatically from 2003 to 2004 the steadily rose until 2006 (the last data shown). President Bush took office on January 20, 2001.
Based on this, the sentence should be changed to:
"Based on the assumption that sub-prime lending precipitated the crisis, some have argued that the Clinton Administration may be partially to blame. However, this chart plainly demonstrates that
sub-prime and
Alt-A loans clearly peaked during President Bush's administration.
Others have pointed to the passage of the Gramm-Leach-Bliley Act by the 106th Congress, and over-leveraging by banks and investors eager to achieve high returns on capital."
Please let me know if there are issues and, if so, how you would recommend the data get cited. I will change it if I do not get objections on 2/4/12.
I would really appreciate all comments...
Markdart ( talk) 22:48, 28 January 2012 (UTC)
Immigration has slowed, but despite this article's claim to the contrary, the number of illegal Mexicans in the U.S. increases annually. The slowing growth started after 2008, not in 2006.
"Approximately 0.5 million dwellings have become permanently vacant as a result of a reduction in the illegal immigrant population. The greatest impact has been on the California economy, where illegal immigrants comprise approximately 1/3 of the total population. The reduced demand for housing created permanent unemployment for hundreds of thousands of building contractors, realtors, and mortgage brokers."
The sources listed are " Trade Winds from the East" and " Mexico eager for Chinese investment".
Aside from the fact that neither source is "reliable," neither one mentions immigration. Also, 1/3 of the people in California aren't illegal immigrants. Monterey County and Los Angeles County have the highest numbers (as a per cent). Both average 1 in 7, not 1 in 3.
I propose that the entire paragraph be deleted. First, because illegal immigration continues to grow, not shrink. Second, because the sources are unreliable and don't mention immigration. Third because no serious economist would ever say that there is a link.-- 205.155.65.233 ( talk) 20:37, 24 March 2012 (UTC)
I agree that this paragraph is political bunk and should be removed. It fails to mention that illegal immigration places an added burden on social services and assited housing and takes jobs away for locals thus contributing to the economic woes. 94.31.12.66 ( talk) 09:06, 4 July 2012 (UTC)
I found six mentions of "Austrian school" or "Austrian" economics in the article. Is this not rather a lot for a fringe group? -- BoogaLouie ( talk) 17:22, 16 May 2012 (UTC)
There are no citations and it's written like an opinion piece.
It needs to be totally redone or axed. — Preceding unsigned comment added by 108.172.11.102 ( talk) 22:53, 13 November 2012 (UTC)
A recent requested move discussion at Causes of the 2007–2012 global financial crisis found consensus for merging that article with this one, with "Causes of the Great Recession" being the preferred title. The merge can be undertaken by a knowledgeable editor at any time.-- Cúchullain t/ c 12:48, 3 April 2013 (UTC)
The reality is that the GR was caused by American policies and an American property and financial crisis. I believe that it is simply not correct to say that: "country after country, as lenders and borrowers put these savings to use, generating bubble after bubble across the globe. While these bubbles have burst, causing asset prices (e.g., housing and commercial property) to decline".
The collapsing bubbles were in the USA, not other countries. Royalcourtier ( talk) 10:11, 1 April 2014 (UTC)
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