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And this situation is similar. A bad thing happened, so we were going to feel some pain. Instead of letting that lead to complete chaos we let it lead to some
by jrumbut 4y ago
And this situation is similar. A bad thing happened, so we were going to feel some pain.
Instead of letting that lead to complete chaos we let it lead to some chaos and some inflation.
- Zetice 4y agoExactly, and just to drive it home, I’m going to feel zero pain as a result of SVB imploding, Thanks to the fed. I felt no pain in ‘08, in ‘20, also thanks to the fed. It was just news to me, abstract and happening to other people. That would not have been true without the fed.
- jrumbut 4y agoI do wish we could get beyond the idea of "I don't like this system, get rid of it." It's not realistic in a society this size to just chuck something like the Federal Reserve. You'd think technologists of all people would understand that to get rid of a legacy system you need to make something so much better it becomes obsolete (or, at the very least, the embrace-extend-extinguish approach).