Cishe okuwukuphela kwesiqinisekiso esimweni samanje sezimali ukuthi kuzoba nezinkinga eziningi ezizayo. Labo ababelawula izisekelo zenqubomgomo yezomnotho neyezimali badebeselela umthwalo wabo omkhulu wemfanelo, okwakuwukuqinisekisa imakethe yezezimali ehlelekile futhi bavimbele uhlobo lokuwa esilubonayo manje. Lokhu bekuwukwehluleka kwenqubomgomo ngenani elikhulu, hhayi inhlekelele yemvelo.
Inkinga enkulu kuseyimakethe yezindlu ewayo. I-Case-Shiller 20-City Index ibonisa ukwehla kwentengo okucishe kube ngamaphesenti angu-20 kule minyaka emibili edlule, umcimbi abambalwa emkhakheni wezezimali ngokusobala abawubheke njengento engenzeka kakhulu. Lokhu kwehla kwentengo kuholele esilinganisweni esingakaze sibonwe sokuzenzakalelayo emalini ebolekiwe namathuluzi aphuma kokunye.
Lokhu kuzenzakalela, nakho, kuphakamise imibuzo mayelana nenani elikhulu lezikhungo zezimali ezikhokhelwayo. Lokhu sekuholele ekwenyukeni kwentengo yezingozi ngokujwayelekile kanye nenkinga yokungazethembi okumanje inyakazisa izimakethe zezimali emhlabeni jikelele.
Nakuba ingekho indlela elula yokuphuma kule nkinga, kwakuyinhlekelele eyayingagwemeka kalula. Ukube i-Federal Reserve Board ibithathe isinyathelo sokunqanda ukukhula kwebhamuza lezindlu ngaphambi kokuba likhule libe yingozi kangako, izwe belingeke okwamanje libhekane nokuwohloka komnotho kanye nethemba lokuwa kwezimali.
U-Alan Greenspan wayenamathuluzi adingekayo ukuze abambe ibhamuza ukube wayethambekele kakhulu. Okokuqala, ubengabeka imingcele eqinile emalini ebolekiwe, njengoba iFed isanda kwenza. Lokhu bekuzovimbela izikweletu eziningi ezimbi kakhulu eziholele enkingeni ye-subprime futhi kusize ukukhuphula amanani entengo yezindlu.
Okubaluleke nakakhulu, wayengasebenzisa isiteji sakhe njengosihlalo we-Fed ukuze axwayise ngokucacile ngezingozi zebhamuza lezindlu. Ebufakazini bakhe bekhongolose nokunye ukubonakala komphakathi, ubengachaza ngokucophelela ukuthi amanani ezindlu ahluke kanjani enkambisweni yeminyaka eyi-100 maphakathi nawo-90s.
Wayengase aveze ukuthi ngemva nje kokwenyuka ngesivinini esifana nesokwehla kwamandla emali kwekhulunyaka, amanani ezindlu avele eqa ngamaphesenti angaphezu kuka-70, ngemva kokulungisa ukwehla kwamandla emali, eminyakeni eyishumi kusukela ngo-1996 kuya ku-2006. Wayengabonisa ukuthi lokhu kwenyuka. ayizange isekelwe yinoma yiziphi izinguquko ezintweni eziyisisekelo zokuhlinzekwa kwezidingo kanye nesidingo emakethe yezindlu, futhi ayizange ifaniswe nanoma yikuphi ukukhuphuka okuqhathanisekayo kwerenti.
Ukube uSihlalo uGreenspan walibeka ngembaba elokuthi kukhona ibhamuza lezindlu futhi waxwayisa ngokusobala ngokulahlekelwa okungenzeka kutholwe abanikazi bezindlu ngabanye kanye nezingozi ezinkulu ezithathwa izikhungo zezezimali ezazitshalwe kakhulu emalini yezindlu kanye nokuphuma kwempahla yezindlu, cishe nakanjani. ngabe kwanele ukukhipha umoya kubhamuza. Njengesinyathelo sokugcina, ubengakhuphula amanani ngenhloso ecacile yokwehlisa amanani ezindlu.
Kunalokho, uGreenspan waphika ngokuphindaphindiwe ukuba khona kwebhamuza lezindlu, echitha izixwayiso zeqembu elincane lezazi zezomnotho ezazama ukudonsela ukunakekela ezingozini ezingase zibe khona ngenxa yebhamuza lezindlu. Ukuphika kukaGreenspan kusize ukudala ukuzethemba okungamanga okuvumele ibhamuza ukuthi liqhubeke nokukhula. Kuphinde kwasiza ekubhebhezeleni ukunganaki ezimakethe zezimali okwaholela ekutheni izikhungo zezezimali ezinkulu zezwe zingazinaki ubungozi obungase bube khona futhi zibe namandla kakhulu emalini yazo.
Azikho izixazululo ezilula enkingeni yezezimali yalolu hlobo umnotho obhekene nalo njengamanje. Akunakwenzeka ukushintsha umlando futhi kufanele sisebenze nenhlekelele edalwe ukuwa kwebhamuza. Kodwa-ke, kubalulekile ukuqaphela ukuthi le nkinga yayibonakala ngokuphelele futhi ingavinjelwa.
UDean Baker ungumqondisi-munye weSikhungo Socwaningo Lwezomnotho Nenqubomgomo (CEPR). Ungumbhali we I-Conservative Nanny State: Abacebile Basebenzisa Kanjani Uhulumeni Ukuze Bahlale Becebile Futhi Bacebe Kakhudlwana. Unayo nebhulogi, "Shaya Cindezela," lapho edingida khona izindaba ezithinta umnotho kwabezindaba.
I-ZNetwork ixhaswa kuphela ngokuphana kwabafundi bayo.
Nikela