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Much ink has been spilt on both these disasters, a lot of it completely dishonest. Regardless of government actions, K shaped recoveries appear to be fairly typ
by ashtonkem 6y ago
Much ink has been spilt on both these disasters, a lot of it completely dishonest. Regardless of government actions, K shaped recoveries appear to be fairly typical for this society and this era; one should expect that the upper classes will recover quicker and better than the lower classes. Cheering on financial collapse in order to hurt the rich is a great example of cutting off your nose to spite your face; most of the pain will be felt the strongest and longest by those you are nominally rooting for.
- ta1234567890 6y agoAgreed, a financial collapse is not good, and I’m not arguing in favor of it. My point is that, at least for this crisis, most people (and probably the economy as a whole too), would have been better off if the government had given money only to individuals. People would have then “voted with their pockets” and the money would have circulated according to what people needed, boosting the economy “organically”. As a side note, as it has been painfully obvious this past year, the stock market is not the economy - however, it seemed like the government focused on saving the stock market instead of the economy.