Is there really an Economic problem or is it a World scam for the rich?

nah no conspiracy just greed causing capitalism to collapse.

I hope capitalism does collapse. It's a greed-oriented system. Those who benefit from it are fine with it. But the huge amount of poor that become the victims of it are entirely left behind.

I do believe the so-called "war" (invasion) in Iraq was intentionally orchestrated for far more (evil) reasons than the rest of us know anything about.

"Nature is a whore".

In other words, there is no END to the amount of food that could be grown -- to make sure all people are fed. And still people are starving? What does this say about mankinds greed and selfishness?

What I find hard to believe about the previous post, is that someone handed out a negative kudo for an innocent freaking question.

You losers, handing out bad kudos for no reason at all are as bad as the people who refuse to give anything away, because they are afraid to "saturate the market".

Give when it's in your hand to give. Give good. Not bad.

We, who live in fertile soil places -- should be growing food like crazy and giving it away. For God's sake, its free and we still don't do it. What is wrong with us?

Yes there is a real economic problem and will be anytime our world leaders decide that there is time to be one. That doesn't mean all reccessions are man made. I personally think this current credit crunch has been engineered, but not by the rich guys.If what I suspect to be true is true, then what has occurred is not only the foundation of new financial security for the people of my country it is also the witnessing of what I would describe as real genius. However foundations can be and will be in this case torn down and we will probably attempt to emulate the current period of reform we are now going through. To me Genius is an abstract concept relative to the subject.

I beleive this comment. for Capitalist poeple..its only about the money. It always has been!

Can i simplify this for the sake of my brain.

So the current crisis is basically an effect of greed? Apart from natural disasters such as massive crop failure i thought all recessions were a result of greedy business men?

In this case is it not the rising cost of fuel last year that pushed us into it?

Personally, I feel it to be too big a problem to have been orchestrated, and by that I mean too widespread to have been arranged in any obe small corner of the planet.

We hear of the sub-prime mortgage scandal in the US, and its effects on the economies of many countries who bought into the scheme also. Here in Australia was no different. As stock values escalated, so too did the price of everything. Rents in the mining towns shot up from $150 per week to $2,000 per week almost overnight. As did property values quadrupal in a matter of months. People panicked, figuring that if they didn't buy a house now, they'd never be able to, so on their couple's salaries earned working as a Trainee Manager at MacDonalds and as storeman for casual rates, they went cap in hand to the banks.

A $450,000 loan? Both in low paying jobs? Four hundred and fifty grand? At seven percent interest? No deposit? No savings? No problems, sign here

Add to that the pure en-masse greed of humanity. A brand new car to go with the house - on credit. New furniture, white goods, and a dishwasher - on credit.

The credit crunch in my opinion, whilst I agree to their having ben some key players who stand to benefit enormously financially, was caused by greed, and greed alone. The rest of us, who give far more than we take, and live by that rule, are the innocent bystanders.