Here is the bottom line on this mess. Home loans were easy to get and you could borrow 125% of the value, Most did, Paid off credit cards, bough expensive cars that cost too much to operate, them ran them back up again, boom everyone is maxed out and don't have anywere to borrow any money and are stuck paying for the credit cards so they don't have any money to spend on buying anything so nothing is selling, nothing sells mfgs dont need the workforce so they lay off workers who, now lose houses and default on loans and credit cards. Any part of this you have questions about just ask me ,and i'm just a dumb ole country boy I don't have a degree in econonimcs to confuse me i just deal in common sense.
