NgoNovemba 2006, isibonakaliso sokuqala sibonakalise inkathazo. ISebe lezoRhwebo lixele ukuba iimvume ezintsha zekhaya ziyehla iipesenti ezingama-28 ngonyaka. Oko kwakuthetha ukuthengiswa kwezindlu zangasese kuya kutyhubela kwiinyanga ezilisithoba ezalandelayo. Kodwa akukho mntu unokukholelwa ukuba ixabiso lezindlu liya kuwela.
Akuzange kwenzeke ukususela kwiNkxwaleko enkulu .
I- Federal Reserve iBhodi yahlala inethemba. Ingxelo yeNovemba yeBeige ye- November, i-Fed yathi uqoqosho lwomelele ngokwaneleyo ukukhupha izindlu ngaphandle kokuqhaqha. Kwakubhekiselele kwingqesho eqinile, ukunyuka kwamaxabiso okunyuka kunye nokunyuka kwemali yabathengi.
Ngo-2006, i-Fed ayizange ilandele okwesibini uphawu olucacileyo loxinzelelo lwezoqoqosho. Leyo yayiyi -curve yokuvelisa i-US Treasurys. I- curve isivinyiweyo esivunyiweyo kukuba i-short-term ye- Treasury note isivuno siphezulu kunezivuno zexesha elide. Isivuno esisisigxina sexesha eliphantsi liphantsi. Abatyalomali badinga ukubuya okuphezulu ukubopha imali yabo ixesha elide. Kodwa baya kutyalo-mali kwixesha elide lokukhusela ekukhuseleni. I-curve yesivuno nayo yachithwa ngaphambi kokuba i-2000 i-1991, 1991, no-1981 ihambe.
AbaSomnotho baye bawutyeshela lo mqondiso kuba amaxabiso enzala ayaphantsi kuneendlela zokuhanjiswa kwangaphambili. Abaninzi babo babecinga ukuba izindleko zezindlu ziya kuvela xa i-Fed iyanciphisa amaxabiso enzala.
Bakholelwa ukuba uqoqosho luya kukhula no-2-3 ekhulwini ngaloo nyaka. Kungenxa yokuba uqoqosho lwaba nexabiso elininzi lokuvelisa ukukhula.
Ingxaki Yenene Yenkxwaleko
Enyanisweni, ukukhula kwe-GDP ka- 2007 kwangena kwi-2 ekhulwini. Kodwa uqoqosho-ababukeli abazange baqaphele ubungakanani obukhulu beemarike zentengiselwano. Yadala "isiqhwithi esipheleleyo" seemeko ezimbi.
Okokuqala, iibhanki zazingakhathazeki ngetyala lokubolekwa ngetyala. Bathengisa iimali zokubolekwa kwiimarike zesekondari .
Okwesibini, abathengi bemibolekiso engabhawulwanga mthethweni babolekisa abantu abangazange bafaneleke. Okwesithathu, abanini bezindlu bafumana imali -mboleko kuphela ukuze bahlawule iinyanga eziphantsi. Njengoko inani lokuthenga imali libuye lisetyenziswe kumazinga aphezulu, aba bahlali abanakho ukuhlawula imali. Emva koko izindleko zezindlu zawa kwaye azikwazanga ukuthengisa amakhaya abo ngenzuzo. Ngenxa yoko, bahlala behleli.
Okwesine, iibhanki zibuyisele iimali zokubolekwa kwiimali zokubambisa imali . Baqeshwe "ama-jocks amaningi" ayenzileyo ekudaleni amasheya amatsha. "Izibhengezo" zabhala iinkqubo zeekhompyutheni eziye zaphindaphinda zihlawulele ezi MBS zibe zizincipheko eziphezulu kunye nobungozi obuphantsi. Iingxowa ezinobungozi obuphezulu zihlawule ixabiso lentengo ephakamileyo, kodwa yayinokwenzeka ukuba ilahleke. Iimpahla ezinobungozi obuphantsi zihlawulwe ngaphantsi. Iiprogram zazinzima kangangokuthi akukho mntu wayeyiqonda into ekhoyo kwipakethe nganye. Babengazi ukuba ubuninzi beetyunithi nganye babesetyenziselwe imali.
Xa amaxesha amnandi, kwakungekho nto. Wonke umntu uthenge iimfesholo eziphezulu ngenxa yokunikezela okuphezulu. Njengoko imakethe yezindlu yayeka, wonke umntu wayesazi ukuba iimveliso zalahlekelwa yixabiso. Ekubeni kungekho mntu wawaqonda, ixabiso lokubuyisela kwakhona lale mveliso ayilucacanga.
Ekugqibeleni kuncinci, abaninzi abathengi be-MBS bebengabanye bhanki nje. Babenomnye- mali-mali , iimali zempesheni kunye ne- hedge funds . Ukusasaza ingozi kulo lonke uqoqosho. Iimali zeeHedge zasebenzisa ezi zixhobo njengezibambiso zokuboleka imali. Okudala ukubuyiswa okuphezulu kwimarike yenkomo, kodwa kwandisa impembelelo yantoni na. IKomishoni yezoThengisa nokuTshintshisa ayizange ilawulwe i-hedge funds, ngoko akukho mntu wayazi ukuba zininzi kangakanani.
I-Fed yangenelela
Ngo-Matshi 2007, i-Fed yabona ukuba ukulahlekelwa kwezindlu ze-hedge fund kungasongela uqoqosho. Kulo lonke ihlobo, iibhanki zazingathandi ukuboleka omnye nomnye. Babesaba ukuba baya kufumana i-MBS embi ngokubuyisela. Abanini bebhanki bebengayazi ukuba baninzi kangakanani amatyala abo kwiincwadi zabo. Akukho mntu wayefuna ukuyivuma. Ukuba babenjenjalo, ngoko ke inani labo lokuthenga ngetyala liya kuncitshiswa.
Emva koko, ixabiso lawo liza kuwa, kwaye abayi kukwazi ukuphakamisa imali engakumbi yokuhlala kwishishini. Imarike yemasheya ibona i-sawed kulo lonke ihlobo, njengoko abathengi bemarike bazama ukujonga ukuba izinto ezimbi ziphi.
Ngo-Agasti, i-credit iye yaqina kangangokuthi i-Fed ibolekise ibhanki eyi-$ 75 yezigidigidi. Kwakudinga ukubuyisela ubude bexesha elide ukwenzela ukuba ibhanki ibhale phantsi ilahleko zazo kwaye ibuyele kwishishini lokuboleka imali. Kunoko, iibhanki zayeka ukubolekisa phantse wonke umntu.
Ukunyuka kwehla kwakuqhubeka. Njengoko iibhanki zancinciwe kwimali yokuthenga, izindleko zezindlu zawa ngaphezulu. Oku kwenza abanye ababolekayo ukuba bangagqibekanga, okwenyusa iimboleko ezibi kwiincwadi zebhanki. Oko kwenza iibhanki ziboleka ngaphantsi.
Kwiinyanga ezilisibhozo ezizayo, i-Fed inciphise amaxabiso omdla ukusuka kuma-5.75% ukuya kwi-2.0 ekhulwini. Yagxotha iibhiliyoni zeedola kwinkqubo yebhanki yokubuyisela ukuthengiswa kwempahla. Kodwa akukho nto eyenza ibhanki ithembelane kwakhona. NgoNovemba ka-2007, uNobhala we-US Treasury uHenry Paulson waqaphela imeko yinyani. Iibhanki zineengxaki zokuthembeka, kungekhona ingxaki yokuthengisa. Udale i-Superfund. Yasebenzisa i-dollar ayi-75 yezigidi kwiedola ezizimeleyo ukuthenga imali embi. Baye baqinisekiswa yiNondyebo. Ngalesi sikhathi, kwakusondele kakhulu njengoko ukwethuka kwandile iimarike zezimali . Kwaye kwacaca ukuba i-$ 75 yezigidigidi ayiyi kuba neleyo.
Isiqalo sokuthintela
Izinto ezimbini zaziyokhusela loo ntlekele. Iyokuqala iya kuba ngumthetho wabathengi bemali, owenza iitalente ezimbi, kunye neengxowa zemali, ezazisetyenziswa kakhulu. Iyesibini iya kuqaphela kwangaphambili ukuba kwakuyinkinga yokuthembeka, kwaye ukuba urhulumente kufuneka athenge iimboleko ezimbi.
Kodwa kwinqanaba elithile, ingxaki yezemali yabangelwa kukutsha kwemali okwaphuphuma ingqiqo yabantu. Iimpembelelo ezinokuthi ziveliswe kwimveliso emitsha, njenge-MBS kunye neemveliso, azizange ziqondwe nangama-jocks amanani abenzileyo. Ummiselo ungakunciphisa ukuhla kwehla ngokunciphisa ezinye zeziphumo. Ayikwazanga ukuthintela ukudaliswa kwemveliso emitsha yemali. Ngokwezinga elithile, ukwesaba nokuhaha kuya kuhlala kudala iimbumba. I-Innovation iza kuba nefuthe elingabonakali kude kube emva koko.