4 ms·
It wasn't civil war, it was anarchy. I was there. People lost the money they thought they had 'invested' for irrational high returns (sometimes over 20% a mont
by eruci 6y ago
It wasn't civil war, it was anarchy. I was there.
People lost the money they thought they had 'invested' for irrational high returns (sometimes over 20% a month). Then they started protesting when the schemes collapsed.
Certain groups first attacked the police. Police melted away. Anarchy ensued.
- sushshshsh 6y agoPolice melted away and in fact the government fled. And also, it was the 90s, in a "third world" or at least "second world" country-- 20% a month was natural considering US mortgages were like 14% a year at that time.
- asah 6y agoAt no point in the 1990s was the US mortgage rate above 11%, and mostly it was 7-8%: http://www.freddiemac.com/pmms/pmms30.html http://www.freddiemac.com/pmms/pmms30.html
- sushshshsh 6y ago"What is regression to the mean" "Everyone surely paid the same average rate of 11%"
- wp381640 6y agoThere's a pretty big difference between 20% a month and 14% per year
- sharpneli 6y ago20% per month is almost 900% per year.