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I don't wish it on you, but imagine that the fed stops propping up the financial markets though QE. "Irresponsibly over-leveraged and nearly bankrupted banks a
by norswap 6y ago
I don't wish it on you, but imagine that the fed stops propping up the financial markets though QE.
"Irresponsibly over-leveraged and nearly bankrupted banks and corporations", allowed to crash and burn.
If this happens, everybody will be worse off - rich & poor alike, but the poor will pay the brunt of the cost. Except this time it won't be just "taxpayer money" that is on the line.
Consider it is possible for the fed's policy to be unfair AND the right thing to do at the same time.
There is no doubt that financial collapse leads to economic collapse. I find it difficult to claim both to be in favour of the common people, and to argue for a course of action that would set the whole world aflame.
- throwaway789394 6y ago“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around(these banks) will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.” Thomas Jefferson Maybe the system is working exactly as intended. This is a feature not a bug