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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (673273)	9/12/2012 11:50:22 PM
From: Tenchusatsu	Read Replies (1) \| Respond to of 1578704

Ted, But its true the Spanish economy was strong as well.......and it wasn't just because of the housing bubble. Spain was developing a strong middle class and growing its major industries. Housing was just one aspect of the economy. Unfortunately, Spain has some very large banks and they messed up badly. When they got in trouble over housing, they stopped lending and the economy crashed. I'm not too familiar with the Spanish economy, but from what you are telling me, it sounds much like what happened here. But you know why the banks messed up here. It's because the housing bubble made everyone greedy, especially the banks. Hence they started lending to anyone and everyone, including those who had no business getting loans in the first place. Therefore, even though housing is just one aspect of the economy here, it was perhaps the main reason why our bubble burst. So why couldn't that be likewise in Spain? Tenchusatsu