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>> The alternative is for banks to give out easy money again like in the leadup to 2008 and that didn't work out well It could have worked out well if the Obam

>> The alternative is for banks to give out easy money again like in the leadup to 2008 and that didn't work out well It could have worked out well if the Obama administration had just allowed the financial system to collapse instead of bailing it out. The collapse of the financial system would have meant that many poorly run companies would have disappeared and they would have been replaced by newer, smaller and more efficient companies. Europe recovered from WW2 relatively quickly; surely the US could also recover from a partial market collapse. Before 2008, there were a lot of talented, ambitious people desperately waiting for an opportunity to compete on the marketplace but the government bailouts took away that opportunity and allowed corporations to keep running their inefficient oligopolies uninterrupted. Today, most of these talented, ambitious people have become losers; they're poor and paralyzed by self-doubt. The reality is that they might actually have succeeded if the government had simply allowed capitalism to take its natural course. The carpet was pulled from under them.

s73v3r_ 8y ago
I feel everyone saying this is completely ignoring what that would mean. You like 10% unemployment? Cool. Here's 25+% unemployment. Sure, a few people might have benefitted in such a way that it would allow them to be the new entrenched banking class, but millions more people would have found themselves laid off, foreclosed upon, and in general completely fucked over through no fault of their own.
- grosjona 8y ago
  Everyone would have survived and they would have gained a great deal of wisdom from this experience. Rich people would have learned humility and everyone else would have learned that the system actually works. Instead, rich people learned complacency and everyone else learned that the system is rigged.
aerotwelve 8y ago
> Europe recovered from WW2 relatively quickly; surely the US could also recover from a partial market collapse. Well, part of that is because of countries like ours which weren't completely destroyed were able to assist financially, help rebuild essential infrastructure, and -- perhaps most importantly -- provide political stability to the region (which they desperately needed in 1945). I'm not sure who would have played that role if we had let the entire global financial system melt down in 2008.

s73v3r_ 8y ago

I feel everyone saying this is completely ignoring what that would mean. You like 10% unemployment? Cool. Here's 25+% unemployment. Sure, a few people might have benefitted in such a way that it would allow them to be the new entrenched banking class, but millions more people would have found themselves laid off, foreclosed upon, and in general completely fucked over through no fault of their own.

grosjona 8y ago
Everyone would have survived and they would have gained a great deal of wisdom from this experience. Rich people would have learned humility and everyone else would have learned that the system actually works. Instead, rich people learned complacency and everyone else learned that the system is rigged.

aerotwelve 8y ago

> Europe recovered from WW2 relatively quickly; surely the US could also recover from a partial market collapse. Well, part of that is because of countries like ours which weren't completely destroyed were able to assist financially, help rebuild essential infrastructure, and -- perhaps most importantly -- provide political stability to the region (which they desperately needed in 1945). I'm not sure who would have played that role if we had let the entire global financial system melt down in 2008.