Economy and moral are two different areas of knowledge, but in the current financial crisis it clearly show that these two disciplines are condemned to understand one another. Anyway talking about finance I've heard that The Internal Revenue Service has few fans. Though a lot of people do not understand it at first, the political expediency of cutting the IRS budget is coming back to bite taxpayers where it hurts. Resource for this article: IRS budget cuts costing taxpayers.

i am agree with you. recession is a curse of excessive utilization of credit in economy.due to this foreclosure market has come into being and now investors are exploring this market to earn more!

Found a few great vids on YouTube last weekend that helped me gain some additional insight into how the USA got themselves into the mess they are in, as well as, a simple and easy to understand vid on how credit and leverage can be great until things go wrong (and people go bust). And, the last one covering the topic of Perpetual Wealth transfer and how that works... Passing them along because they present the basics of these subjects in easy to to understand formats.. Enjoy!

O.C.

Links:

This one explains how the US got into trouble by continually borrowing more money to pay off existing debts, thus, why their national debts are rising more and more all the time.

US Debt Crisis - 2012 is only for America

http://www.youtube.com/watch?v=Jjv-MtGpj2U&feature=related

This one talks about how the banks went crazy with cheep credit, thus lending to people who shouldn't have qualified in the first place, and the results of those effects when people started going bust.

Understanding the Financial Crisis - very well explained.
http://www.youtube.com/watch?v=qqUGoVez8xg

If you work to earn money you need to watch this
http://www.youtube.com/watch?v=Tp2nu0Qdt0o&feature=related

Many people in business say about the new economical recession in the world, especially in the Eurozone. Euro slowly loses the own power. Every negative impact will be the following repercussion in our contry and also North America. Let me ask you, this situation presents only financial crisis or also moral crisis? You can check some analysis: http://calgaryrealestate.ca/news/2011/11/europe-crisis-background/

Personally, I vote for both choices, because any political personality doesn´t have rational and pragmatical solutions.

What is your personal opinion on the current situation in the world?