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That was very informative thanks. I think the biggest problem with allowing the 2008 crisis to run it's course is the same problem with the 1920s. It would crea
by Clubber 9y ago
That was very informative thanks. I think the biggest problem with allowing the 2008 crisis to run it's course is the same problem with the 1920s. It would create a Great Depression that, for the longest time, we didn't think we could even get out of. Of course with the 2008 bailout, the banks got bailed out but the citizenry did not.
Having said that, I'm not sure it was the right decision.
- platz 9y agoI not sure he exactly said that the 2008 crisis _should've_ been allowed to fail; but just that since it _wasn't_ allowed to fail, it has these consequences, compared to what happened in the 70's with the 'reboot'.
- Clubber 9y agoI agree. I was just pontificating on the pluses and minuses of each direction. What would it have looked like if our banking system was allowed to collapse, short term and long term?