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Absolutely fucking insane that this could have even lasted that long. When things are good, Ponzi schemes appear smarter, hipper and more profitable than ordin
by joe_the_user 4y ago
Absolutely fucking insane that this could have even lasted that long.
When things are good, Ponzi schemes appear smarter, hipper and more profitable than ordinary businesses and so no one want to run anything else after a bit. That's why the Fed is there to "take away the punch bowl just when the party is getting interesting" - because, whatever their other virtues, markets won't stop this before disaster strikes.
- grey-area 4y agoShame the Fed didn’t do that. Instead the Fed has been pouring vodka constantly into the punch bowl since 2009. This bubble is primarily their fault and now after it burst they have decided to go the other way and raise rates into a recession.