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I guess the counterpoint to this would be to say that it's policy, not human stupidity which has led to the bubble. By keeping the interest rate at almost zero
by skohan 5y ago
I guess the counterpoint to this would be to say that it's policy, not human stupidity which has led to the bubble. By keeping the interest rate at almost zero for over a decade, the fed has incentivized dumping money in the market, since there's really nowhere else to put it. And dumping trillions into the economy in the past year has only added fuel to the fire.
It can be argued that trying to "regulate away losses and negative outcomes" is exactly what has been happening over the past decade.
- StandardFuture 5y ago> It can be argued that trying to "regulate away losses and negative outcomes" is exactly what has been happening over the past decade. Yes, this is because we have been living in a boomer-retirement-fund driven crony capitalistic market for the past 2-3 decades. Wall Street and politicians in bed doing whatever they can to squeeze the economy of every last drop (usually through regulations + consolidations) to put in the old peoples last-wishes/bucket-list fund. We are a society that went from having too many impoverished elderly to having too many narcissistic and lavish elderly who have no idea what too even do with their 3 homes and 7 figures. Rich hippies, basically.