La actual crisis finaciera empezó a gestarse en 1999

Al menos hay pruebas documentales de que ya para entonces se estaban sembrando las semillas: la mayor melanina de la piel o la configuración de la entrepierna eran criterios suficientes para conceder créditos a individuos insolventes que se sabía no podrían devolverlos:

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets — including the New York metropolitan region — will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.

Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

Del 30 de septiembre de 1999, en el NYT. Más aquí: A Marginal Tax Rate of 90%?

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  1. Bueno veo que Usted va aprendiendo…..ha visto mi post referido a 1999 y suzeorman y ha debido pensar ¿algo he hecho mal?

    Vamos a ver si le sigo dando buena informacion

    Por cierto que acabo de recibir un mensaje de un cierto foro (es decir a llegado a mi E-Mail) en el que los moderadores dicen que Febrero han batido el record de mensajes para el mes con menos numero de dias al año.

  2. Aqui la experta numero uno en finanzas. Si ya se que Usted se reira que habló en el show de Opra. Yo conoci los libros de Suze en el 2001 via amigos del partido republicano. Todo lo que dice ahora lo ha venido diciendo siempre. Una mujer que paso de camarera en Los Angeles a banker con Merrill Lynch en Nueva York, a multimollinaria empresaria sabe un montón. Con leer sus libros se aprende mas que estando detras de un ordenata y poteando buscando respuestas a preguntas incorrectas

    Home
    Suze Orman on the Current Financial Crisis on ‘Oprah’

    Suze Orman expressed extreme concern on ‘Oprah’ yesterday about the current state that the banking and investing industries are in, she warned that credit cards with endless limits and mortgage loans will continue to disappear. Orman spent a good amount on the show today discussing ways to safeguard yourself from the financial meltdown.

    Oprah opens the show by saying people are freaking out about the economy. Suze Orman said that we have built the economy on lies and deceit. She continued to explain that a little crack appears in the economy and it starts to open and everything starts going down. Orman gave blame to the greed, and she said it started with the bank, and the administration. There was greed at the top, such as stocks the more money they make the more their stock prices go up. The greed of the lenders prompted them to get more people to spend money that they don’t have.
    Orman said that a lot of individuals have bought homes that they couldn’t afford, you put things on the credit card you couldn’t afford, and you cashed out equity in your home. She seemed ominous in this show and added that this time it is more serious than it has ever been.

    Oprah added that it is like the laws of cause and effect.

    Orman said that these corporations are made up of people, where there is a lack of consciousness. People first, then money, then things, is what Orman says her mantra is. The corporations wouldn’t have created loans that people couldn’t afford if they were concerned about people first instead of money. She added that when the economy looks great the stock market goes up, the compensation goes up for the CEOs.

    Orman said that credit is almost impossible to get. She said that credit cards limits will disappear or shrink down to nothing.

    She said it is going to take years for your stock portfolio to recover. She said that people’s 401K retirement funds have been reduced to half, which has changed many people’s chances for retirement.

    Orman explained how the spiraling economy continues to go downward. She said that there is higher employment, then there is more foreclosure, then there are fewer amounts of people paying property taxes. Because property taxes pay for fire, police, and schools, they go up for other homeowners, and this will force more homeowners into foreclosure.

    Orman recommends that it is time to be safe and sound. She said to start doing what she has been begging them to do all along. Don’t spend, downsize, and live within your means.

    Orman warns again how credit cards will be disappearing. Oprah said remember layaway. That is were we are heading.

    Oprah said that Trump said that this is just as bad as the crash of 1929. Orman said that it would almost be as bad but there were some safeguards in place.

    http://www.bestsyndication.com/?q=20080924_warnings_from_suze_orman_current_financial_crisis_on_oprah.htm

  3. Suze Orman” True financial freedom is achieved when your pleasure in saving money equals or exceed your pleasure in spending it.”

    Workbook on her book the 9 steps to financial freedom. Quien no haya hecho los deberes en ese workbook (me costó 15 dias entre 2 fines de semana en Nueva York) poco sabe de la financial crisis actual

    Ademas entre otros muchos libros tiene

    The Laws of Money, The Lessons of Life

    Over the years I have come to learn that, to one extent of another, most people tend to lie about who they are when it comes to their money. I have learned the hard way that financial lies destroy financial lives, and that telling the truth about yourself and your money is the only way to keep what you have and create what you deserve.

    1. Law Number 1: Truth Creates Money, Lies Destroy It

    2. Law Number 2: Look at What You Have, Not at What You Had

    3. Law Number 3: Do What is Right for You, Before You Do What is Right for Your Money

    4. Law Number 4: Invest in the Known, Before the Unknown

    5. Law Number 5: Always Remember: Money Has No Power of Its Own

  4. Que sorpresa despues del futbol. Estaba viendo al Madrid comunicandome con un buen socio madridista de una web liberal que es empresario y tal. Pero si le digo el nombre de la web Usted tambien me la adjudicará.

    Vaya, 3 posts seguidos,post-datados claro para seguir tele-dirigiendo al publico domesticado. ¿pero no decia que era uno al dia? ¿en que quedamos? ¿que pasa que me va a adjudicar los posts de Albisnu, Extrañada, Chicagoan, y no sé cuántos mas?

    Efectivamente estoy con Usted no hay mas ciego que el que no quiere ver. Es el chiste facil de la izquierda y de los de AES claro. Pedir argumentos a los 7.078 española/es que Usted pide el voto es pedir peras al olmo

    Habiendo leido a Kiyosaki durante 10 años que es el autor con Donald Trump de http://www.whywewantyoutoberich.com (por indicación de Trump) comprenderá Usted que efectivamente hay ciegos por eso no se les pone en contacto con Republican Abroad. Donald Trump debe ser uno de ellos según Usted necesita libros. Porque en su libro Think Like a Billionaire es lo primero que dice: Lee todo los dias y no veas television, no escuches radio y poco Internet. Dice literalmente E-Mail is for wimps. Me han dicho que Buffet ya le ha propuesto varias inversiones.

    Ya sé que nos dirá que Usted nos dira que el oro y tal…o nosdira que como escuchar a Kiyosaki por ser de Hawai como Obama. Claro que Kiyoskai es un ex-marine. Y lo primero que explica es: No invierta Usted en acciones, como mucho invierta Usted en options. Y valorando los riesgos. Del oro siempre ha sido un fan pero tambien de comprar empresas como las de petroleo que tiene. Habiendo conocido personalmente a Robert Kiyosaki en varios mitines de Republicans Abroad comprendera Usted que efectivamente no se invita a los ciegos sino a los inteligentes. Por eso que interpretar esto (oiga de la misma web donde Usted se saca lo de invertir en los fondos de oro)le va a ser muy dificil. Hay todo un research de mas de 20 libros y un business model. Amén de que es necesario tener el inglés como primer idioma para saber leer tanto.

    Y claro por eso algunos sabiamos perfectamente que esto venía. Y por eso Usted coge mis posts, los lee y dice. La ciega me da una idea. Efectivamente esto empezó en 1999. Y en 2002 dejamos de invertir un solo centavo en el stock market.

    Posted on Monday, November 24, 2008, 12:00AM

    How did we get into the current financial mess? Great question.

    Turmoil in the Making

    In 1910, seven men held a secret meeting on Jekyll Island off the coast of Georgia. It’s estimated that those seven men represented one-sixth of the world’s wealth. Six were Americans representing J.P. Morgan, John D. Rockefeller, and the U.S. government. One was a European representing the Rothschilds and Warburgs.

    In 1913, the U.S. Federal Reserve Bank was created as a direct result of that secret meeting. Interestingly, the U.S. Federal Reserve Bank isn’t federal, there are no reserves, and it’s not a bank. Those seven men, some American and some European, created this new entity, commonly referred to as the Fed, to take control of the banking system and the money supply of the United States.

    In 1944, a meeting in Bretton Woods, N.H., led to the creation of the International Monetary Fund and the World Bank. While the stated purposes for the two new organizations initially sounded admirable, the IMF and the World Bank were created to do to the world what the Federal Reserve Bank does to the United States.

    In 1971, President Richard Nixon signed an executive order declaring that the United States no longer had to redeem its paper dollars for gold. With that, the first phase of the takeover of the world banking system and money supply was complete.

    In 2008, the world is in economic turmoil. The rich are getting richer, but most people are becoming poorer. Much of this turmoil is directly related to those meetings that took place decades ago. In other words, much of this turmoil is by design.

    Power and Domination

    Some people say these events are part of a grand conspiracy, and that might well be. Some people say they represent the struggle between capitalists, communists and socialists, and that might be, too.

    I personally don’t participate in the debate over a possible global conspiracy; it’s a waste of time. To me, the wider struggle is for power and domination. And while this struggle has done a lot of good — and a lot of bad — I just want to know how to avoid becoming its victim. I see no reason to be a mouse trying to stop a herd of elephants from fighting.

    Currently, many people are suffering due to high oil price, the slowdown in the economy, loss of jobs, declines in home values, increased bankruptcies and businesses closings, savings being wiped out, the plummeting stock market, and rising inflation. These realities are all direct results of this financial power struggle, and millions of people are its victims today.

    An Extreme Example

    I was in South Africa in July of this year. During my television and radio interviews there, I was often asked my opinion on the world economy. Speaking bluntly, I said that South Africans had a better opportunity of comprehending the global turmoil because they’re neighbors to Zimbabwe, a country run by Robert Mugabe.

    In my interviews, I said, “What Mugabe has done to Zimbabwe, the Federal Reserve Bank and the IMF are doing to the world.” Obviously, my statements disturbed many of the journalists. I did my best to comfort them and assure them I was not an anarchist. I explained, as best I could, that Zimbabwe was an extreme example of an out of control power struggle.

    After they were assured I was only using Zimbabwe to illustrate my point, I said, “If you want to understand the world economy, take a refugee from Zimbabwe to lunch.” I advised them to ask the refugee these questions:

    1. How fast did the economy turn?

    2. When did you know that you were in financial trouble?

    3. When did you finally decide to leave Zimbabwe?

    4. If you could do things differently, what would you have done?

    Three Approaches to a Crumbling Economy

    I spoke to three young couples from Zimbabwe while I was in South Africa. Two couples were recent refugees now living in South Africa, and one couple still lives in Zimbabwe. All three couples had interesting stories to tell.

    One couple said that they would have quit their jobs earlier. Instead, they hung on, hoping the economy would change. Then, virtually overnight, the value of the Zimbabwean dollar dropped and inflation went through the roof. Even though they received pay raises, the couple couldn’t survive and soon depleted their savings. They left Zimbabwe by car with almost nothing. If they could’ve done something differently, they told me, they would have started a business in Zimbabwe and began exporting products to South Africa, so that they would have had South African currency and a bank account there before they fled.

    The second couple that fled the country said they saved money and paid off their house and other debts even as the Zimbabwean dollar fell in value. Looking back, they say they would’ve saved nothing and gotten deeply in debt in Zimbabwe, allowing them to pay off their debt with the cheaper dollars. Instead, they fled after they lost their jobs, leaving behind their house and owning $200,000 in nearly worthless Zimbabwean dollars.

    The third couple still lives in Zimbabwe. When they saw the writing on the wall, they set up a business in South Africa and, with the profits, began acquiring tangible assets in Zimbabwe. Often, they’ll buy an asset in Zimbabwe and pay the seller in South African currency. They believe that once Mugabe is gone and order is restored, they’ll be in a strong financial position.

    Many Problems, Few Solutions

    There are three major problems with the events of 1913, 1944, and 1971. The first is that the Fed, the World Bank, and the IMF are allowed to create money out of nothing. This is the primary cause of global inflation. Global inflation devalues our work and our savings by raising the prices of necessities.

    For example, when gas prices soared, many people said that the price of oil was going up. In reality, the main cause of the high price of oil is the decreasing value of the dollar. The Fed, the World Bank, and the IMF, like Zimbabwe, are mass-producing funny money, thereby increasing prices and devaluing our quality of life.

    The second problem is that our economic crises are getting bigger. In the 1970s, the Fed faced and solved million-dollar crises. In the 1980s, it was billion-dollar crises. Today, we have trillion-dollar crises. Unfortunately, these bigger crises mean more funny money entering the system.

    Apocalypse Soon

    The third problem is that in 1913, the Fed only protected the large commercial banks such as Bank of America. After 1944, the Fed, the World Bank, and the IMF began bailing out Third World nations such as Tanzania and Mexico. Then, in 2008, the Fed began bailing out investment banks such as Bear Sterns, and its role in the Fannie Mae and Freddie Mac debacle is well known. By 2020, the biggest of bailout of all will probably occur: Social Security and Medicare, which will cost at least a $100 trillion.

    Even if we find more oil and produce more food, prices will continue to rise because the value of the dollar will continue to decline. The dollar has lost over 90 percent of its value since the Fed was created. The U.S. dollar will continue to decline because of those seven men on Jekyll Island in 1910.

    Granted, the funny-money system has done a lot of good — it has improved the world and made a lot of people rich. But it’s also done a lot of bad. I believe somewhere between today and 2020, the system will break. We’re on the eve of financial destruction, and that’s why it’s in gold I trust. I’d rather be a victor than a victim.

    http://finance.yahoo.com/expert/article/richricher/124339

    Con respecto a lo que dice Joana que quiere español

    He aqui el caso de una canaria afincada en Madrid que me contacta para que le ayude a preparar una entrevista en el extranjero. No la he visto en 20 años pero la amistad perdura. Y mire el diálogo

    “Gracias Yoli le echaré un vistazo a ver que tal. Parece que todo tiene sentido y los controles son buenos lo cual es implementable en la posición que me ofrecen, así que no entiendo, viendo las multas multimillonarias y los encarcelamientos, porque hemos llegado a ésta situacion…madoff, aig,bancos …la sec y sus controles hacen aguas..

    Enviado desde mi BlackBerry® de Vodafone

    Hay rica…..porque hace falta que eso se aplique…efectivamemte el problema de la crisis actual es la falta de controles…y en el sector bancario ignoran SOX…Bush llegó a decir en la segunda legislatura que es que …en la primer legislatura estuvo ocupado con los escandalos financieros…¿y que hizo después?….print money…and print money….sobre la SEC…hacen lo que pueden…. en 2002 dijeron (una mujer tenía que ser) en un seminario “No me creo una empresa que dar resultados espectaculares 2 trimestres consecutivos….mi trabajo es destrozar tu carrera”…si la SEC ha encarcelado a muchos en base a lo que tu dices pero su plan de revisar los controles de todas las empresas en bolsa en un plazo de 5 años….no se cumplió…van para 7 y no creo que ni el 30% haya sido visitado…va a ser necesario un overhaul del sistema financiero y yo creo que es insostenible la dualidad NYSE & Nasdaq…..aún así le echo mas culpa a Clinton que a Bush…este heredó el book de e-commerce que creó muchas empresas fantasmagóricas….suerte y llamame 8 am Eastern…. para prepararlo bien.

  5. El articulo de Kiyosaki fue tambien expuesto aquí

    http://www.capitalistdigest.com/how-the-financial-crisis-was-built-into-the-system-1124/

    Por cierto que tanto Kiyosaki como Orman son New York Times best sellers ,en el caso de Kiyosaki varios años consecutivos. Claro que pedirle a alguien que en 1999 se hubiese leído a estos autores es pedirle peras al olmo. Yo escuché a alguien de Republicans Abroad y tenía razón. Pero se trata de escuchar a gente sensata.

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