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large institutions going bankrupt doesn't mean millions of americans will be thrown out of work. that's a boogeyman used by economists to short-circuit that lin
by clairity 6y ago
large institutions going bankrupt doesn't mean millions of americans will be thrown out of work. that's a boogeyman used by economists to short-circuit that line of thinking because it threatens moneyed interests. the value of those businesses remains and they'll be quickly bought up and revitalized by excess capital looking for returns (part of the problem is concentrated wealth that doesn’t know what to do with itself). let that excess capital be unleashed rather than sitting sidelined. we need more bankruptcies at the unproductive top-heavy end of the economy.
- MrMan 6y agoThis!
- cudgy 6y agoSo true. The Fed is essentially a dam built to stop the existing machinations of capitalism from flowing as they were intended. The longer it remains in place, the harder it will be to prevent these forces from occurring until eventually (like now) the economy no longer resembles a capitalist system.