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The banks seem to have won the propaganda war about bailouts preventing economic collapse pretty well. I guess once the government makes the bailout and the ba
by noddy1 9y ago
The banks seem to have won the propaganda war about bailouts preventing economic collapse pretty well. I guess once the government makes the bailout and the banks accept the bailout, both parties are pretty committed to ensuring the public thinks that the bailouts were required.
What we really got was a tacit approval for bankers that they could make highly leveraged bets in the 7 years that the markets were going up, make shitloads of money, feel like geniuses, and then when it all inevitably explodes the government would bail them out and then QE like crazy to pick up the pieces. The QE would be given not to citizens, but to banks to inflate equity markets, and start the whole cycle again.
Now we have a whole new generation of financial "geniuses" overhyping every asset class, making shitloads of money off it all, thinking they are geniuses, and when it all collapses again they think the same thing will happen. It may do, but this time I don't have to be involved in that bullshit. My money is now unprintable. They can devalue the USD shitcoin all they want, but there are still only 21 million possible bitcoins and that's all I care about.