Same Party, Same Calamity
Posted by Connect-Turnover4402@reddit | EndlessWar | View on Reddit | 2 comments
Posted by Connect-Turnover4402@reddit | EndlessWar | View on Reddit | 2 comments
shane_4_us@reddit
The Great Recession wasn't a consequence of the (admittedly disastrous) Iraq War, it was because of leveraged derivatives on variable-rate mortgage-backed securities.
Yes, there are (some) similarities between the Iraq War and the new War on Iran, and yes there are (some) similarities between the market instability between the Great Recession and the house of cards we are experiencing now, but the conclusion that either was the direct result of their coincident wars fundamentally misunderstands the causes and effects of all four.
Just-Sale-7015@reddit
This is true to a large extent, but the oil price contributed to the shock
https://en.wikipedia.org/wiki/2000s_energy_crisis#/media/File:Price_of_oil_(2003-2008).png