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I feel like this entire house of cards that is the international financial system is going to completely collapse in my lifetime. I'm not extremely familiar wi
by grannyg00se 15y ago
I feel like this entire house of cards that is the international financial system is going to completely collapse in my lifetime. I'm not extremely familiar with the details, but the more I learn, the more fragile and arbitrary the whole thing seems.
- chopsueyar 15y agoI recently read a fiction book, "The Panic of '89" by Paul Erdman, which discusses a hypothetical terrorist plot to create an international run on US-priced financial instruments and institutions. Interesting hypotheticals abound. It also mentions the Gramm-Rudman act, which I had not heard of prior to reading the book. It was an 'Emergency Deficit Reduction Act' from 1985. http://en.wikipedia.org/wiki/Gramm%E2%80%93Rudman%E2%80%93Hollings_Balanced_Budget_Act http://en.wikipedia.org/wiki/Gramm%E2%80%93Rudman%E2%80%93Ho...
- sliverstorm 15y agoThe really interesting thing is it's probably the most stable house of cards ever built; generally speaking, it is in nobody's best interests for the international finance system to collapse.