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>> We are talking about companies which have plenty of assets and strong businesses. If their businesses were so strong, they shouldn't have taken a loan that

>> We are talking about companies which have plenty of assets and strong businesses. If their businesses were so strong, they shouldn't have taken a loan that would jeopardize them so easily. The Fed should let them default and take all their cronies down with them. Give the system a good clean by wiping out the parasites. A lot of these so-called 'strong' companies had been using debt as a way to evade taxes... And now that their highly unethical schemes are about to crumble, we bail them out? The Fed are aggravating the 'too-big-to-fail' problem. They're turning every corporation into 'too-big-to-fail'. If we continue down this path, we'll end up with communism. It will be the worst, most perverse form of communism ever invented.

hn_throwaway_99 7y ago
This line of thinking is so much in fantasy land. Here is what would really happen: 1. Lots of businesses would fail, and we would experience another great depression. 2. You don't like populism now? The risks of outright fascism (beyond what you could say we already are experiencing) would go up exponentially. The main problem with the Ron Paul acolytes is they think that society wouldn't have a massive breakdown in the face of an extremely deep depression - it would just be "the smart entrepreneurs would buy up the assets and build something better!" - but they never talk about how they would deal with the breakdown in democracy and basic government systems that would be a likely result.
- cryptica 7y ago
  >> 1. Lots of businesses would fail, and we would experience another great depression. We need a great depression. Every depression brings new opportunities. Have you considered the other side of the story? There are many people who have been locked out of opportunities (especially millennial) and who have been struggling to start or grow their own businesses for a whole decade because they could not compete against corporate monopolies. The failure of these corporations would be a huge opportunity for them. >> 2. You don't like populism now? The risks of outright fascism (beyond what you could say we already are experiencing) would go up exponentially. It's better to have fascism officially if that means everyone will be subject to the same rules and same level of hardship.

hn_throwaway_99 7y ago

This line of thinking is so much in fantasy land. Here is what would really happen: 1. Lots of businesses would fail, and we would experience another great depression. 2. You don't like populism now? The risks of outright fascism (beyond what you could say we already are experiencing) would go up exponentially. The main problem with the Ron Paul acolytes is they think that society wouldn't have a massive breakdown in the face of an extremely deep depression - it would just be "the smart entrepreneurs would buy up the assets and build something better!" - but they never talk about how they would deal with the breakdown in democracy and basic government systems that would be a likely result.

cryptica 7y ago
>> 1. Lots of businesses would fail, and we would experience another great depression. We need a great depression. Every depression brings new opportunities. Have you considered the other side of the story? There are many people who have been locked out of opportunities (especially millennial) and who have been struggling to start or grow their own businesses for a whole decade because they could not compete against corporate monopolies. The failure of these corporations would be a huge opportunity for them. >> 2. You don't like populism now? The risks of outright fascism (beyond what you could say we already are experiencing) would go up exponentially. It's better to have fascism officially if that means everyone will be subject to the same rules and same level of hardship.