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Of course not. The US hasn't had a free market economic system, or anything closely resembling that, in 60+ years. The US is at best a mixed economic system. T
by adventured 5y ago
Of course not. The US hasn't had a free market economic system, or anything closely resembling that, in 60+ years. The US is at best a mixed economic system.
The megabanks didn't crash the world economy, they assisted as role players. The Fed's artificially low interest rates - an attempt to try to dodge a harsher recession after 9/11 and the dotcom implosion - primed a massive real-estate bubble that inevitably had to collapse. Just as the Fed has once again primed the massive asset bubbles in the US (both stocks and housing) by holding rates artificially low for far too long to try to spur fake economic growth.
- kazen44 5y agoprior to world war 2, the US wasnt a free market either. with massive government involvement to solve the great depression.