What do you think about World Big Depressd?

Hi, ladies and gentlemen. I'm Jes the host of this blog. On this blog, you'll have debate with someone you haven't seen before, but met on the on-line. We're lucky.

OK, nowadays what's the main issue of these days? Sure, the World Big Depressed(I'll call them as WBD from now). On Sep, 15, "Lehman Brothers" declared bankruptcy. And thousands of people lost their job. It was called as "Black Monday".

And it was a starting signal for the WBD. "AIG" and "Goldman Sachs" may have been failed but government helped them with billions of dollars and they were barely saved. But ten thousand of people were fired again, and finally, American GNP and GDP was shranked. that shocked the whole world. WBD first hit Iceland. Iceland was a pretty rich country but because of the WBD, they received financial aid from IMF. And it went to Asian countries like China, Japan and Korea. Especially China was developed highly even up to 15%, but WBD hit China and suddenly Chinese stocks were went down.

Same on Korea and Japan. They are still on the WBD, and Korean money "Won(￦: 원)" is having too low value and Japanese money "Yen(￥: 円)" is having to high value, and both of them are having low percentage of exporting(↓30%) and developing rates(Korea: 2.1%~2.3% Japan: -1.5%).

It also had an effect on American president voting. Before Sep, people prefered to McCain and Failin than Obama, but after the ABD, they wished Obama to be a president, because they believed him to change the American economics, and to save the economy.

Then Why dis such a thing happened? Some say that's because of the house bubbling and some says that's because of wrong politics of government.

Let's go back to 『An Inquiry into the Nature and Causes of the Wealth of Nations』. Adam Smith has claimed that we should leave our market. There should be no control by government or any organizations. He thought that "Invisible Hand" could control market with suitable prices. This became the most important rule of the capitalism.

USA government left their hands from markets for a hundred of years, and therefore, many plutocrats have been appeared like Carnegie and Rockefeller. They control the market with their riches. So on, for the exception, USA government separated many huge companies. This WBD was just because of that thing. They believed "Invisible Hand" could help them, but it wasn't. People bought and bought and bought the immovable properties and houses, especially in the Wall St. Of course, they got bubbles. It seemed like the way to be a mushroom millionaire. But soon it became a way to the hell.

Some people knew this is not that good way after they bought, because it was high return but high risk. They selled the Stocks. Then many people noticed them and followed them! Selled! Finally Stocks went down very quickly and they almost failed.

It is simple, but its effect was huge and deep. A country was failed, thousands of people were lost their job and it made a president!

What do you think about this? Do you think am I right? If I wrong, please write the reason on the reply. Then I'll read all of them.