What the fuck is happening to the economy?

What the fuck is happening to the economy? One bubble after another is bursting in this decade. First was the tech bubble at the beginning of this decade and then the housing bubble. None other than Greenspan ( ex-Fed chairman) should be blamed for this. He reduced the interest rate dramatically to 1% and made people to look at mortgage as a better investment as soon as the tech bubble burst. He was responsible for the over inflated housing market ('02 - '05). SEC should also be blamed for this. They should be regulating the financial institutes. All the financial institutes were given a free hand in the subprime mortgage sector.

Even after 2 bubbles people don't realize that if one entire sector of the market goes bullish its a fucking bubble. The commodities sector is way too much over priced. Blame it on the speculators twisting the supply-demand theory. Oil and food prices are soaring sky high because of the "sudden" increase in demand in growing markets like China/India. Just 5 months before, Oil was trading under 80$/barrel. Then the speculator jumped in and inflated the price now to 140$. I don't understand how the demand could increase in just 5 months.

Bernanke followed the footsteps of Greenspan and decreased the interest rates from 5 to 2%. Thank god, he, unlike Greenspan, realized that inflation is also a factor that should be considered. Look at Europe, they didn't cut back on the interest rates to ease a problem and making Euro a stronger currency. None of the presidential candidates talked about the real issue of this financial mess, except for Ron Paul. He was demanding an answer from Feds for artificially fluctuating the interest rates. Though Ron Paul is a Republican, I liked his ideas. Unfortunately he could not get the presidential nomination.

Many lessons should be learned in this decade. Few

1. Don't touch the interest rates, unless it really necessary.
2. A general body to strictly regulate the financial institutes and their lending practices.
3. Eliminate speculators.