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By saying half the market would die die you mean GDP would have been cut in half without a bailout in 2008?
by ryan93 5y ago
By saying half the market would die die you mean GDP would have been cut in half without a bailout in 2008?
- scott_w 5y agoObviously that’s hyperbole but I did have a look and industrial activity in the USA declined by 46%. Global trade dropped by 70%. GDP itself dropped by about 30%, from what I could find. By contrast, the Great Recession of 2008 saw a GDP drop of 4.3%. So, yes, without government bailouts, markets can fail _catastrophically_
- ryan93 5y ago30% was a lot higher than I realized.
- onethought 5y agoYes. Or worse, at least. Over a trillion dollars was injected and there was still a recession.