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You've got to admit, it'll be interesting to see how this plays out. Eastern countries with more direct government intervention, strong-arm leaders like Modi,
by ilikerashers 3y ago
You've got to admit, it'll be interesting to see how this plays out.
Eastern countries with more direct government intervention, strong-arm leaders like Modi, Winnie the poo vs waning Western powers.
China didn't bail out its property gamblers, the West bailed out its banking gamblers. The West excels at high-level corruption. It's not bribing an official down a back alley, it's done Manhattan high rises and Mayfair team rooms.
Both are indefensible but as bad as each other.
- corimaith 3y agoDepends if you think bailing out the banks was the wrong choice overall. The last time the Great Depression happened we got a world war out of it. It's true that perverse incentives were created out of that, but I would ask if the financial industry is still making these mistakes like NINJA loans. Considering how we just got out of inflation without a recession, the US economy seems pretty structurally sound today.
- ilikerashers 3y agoMight be true, might not. Checkout out this podcast if you get a chance: https://www.bloomberg.com/news/articles/2024-01-23/brevan-howard-s-jason-cummins-on-the-current-macro-outlook?srnd=oddlots https://www.bloomberg.com/news/articles/2024-01-23/brevan-ho... Not sure we can draw a line under anything yet and there is still lots of potential for economic instability out there.