Is the media to blame (in part) for the recession ?

[Ian Dome]

Its funny that when you venture away from your chosen field you screw up like this.

 

Oh wait, you always screw up!

 

Well, just try to remember never to quote a "media" article in your threads.

 

I guess these idiots will do anything as long as their stories sell (no matter how exaggerated and full of hyperbole they may be).

 

[CXC3000]

Its funny that when you venture away from your chosen field you screw up like this.

 

Oh wait, you always screw up!

 

Well, just try to remember never to quote a "media" article in your threads.

 

 

It may be true when there's no evidence to back up what you say, ID, but when there is, no amount of lies and spin will make people stop realising what's really happening.

[JFKvsNixon]

I think this crisis was brought about by various related factors.

 

Firstly, the fact that the profits to be made by the financial services sector were so big. This drew further investors into the that industry, which gave the financial services access to lots of cheap money which they wanted to put to use by lending it to you and me whilst charging a premium.

 

This caused investment in manufactory to suffer as a result, but this created a major problem. If people weren't investing in manufacturing to help make more and more things to sell, how could the economy grow the traditional method via wage rises?

 

Another problem was that what ever growth the companies did see was lost to the economy by rewarding the companies executives instead of passing the pay rises down through the company. So the only answer was to use the cheap money that the financial sector had access to grow the economy.

 

So instead of people funding any increase in their lifestyle via wage rises, they instead turned to the financial services and their access to cheap money. It was never going to last.