2 ms·
2008 doesn't seem like a good argument for "Re-running the entire history of finance scams, up to and including 2008 if we can get that far".
by Filligree 4y ago
2008 doesn't seem like a good argument for "Re-running the entire history of finance scams, up to and including 2008 if we can get that far".
- rglullis 4y ago2008 wasn't caused by a finance scam. It was caused by an already heavily-regulated banking industry, supported by governments addicted to growth. Not that different from what is happening now with the crypto "exchanges", by the way.
- bboygravity 4y agoWow, you must've missed that little something about Glass Steagal.
- rglullis 4y agoWow, you must've missed the point entirely. I'm talking about how both bubbles were a consequence of all the money being pumped relentlessly by governments. That it was going to pop, we should not have no doubt. If it wasn't for crypto "exchanges", it would be a dot-com v2 (which is also happening, but without crypto to take all that capital this crisis would be bigger still), or it would be something else entirely... but at the end of the day, as long as we have governments addicted to growth, we will have boom and bust cycles.