2 ms·

The standard move is to hunker down for the next 4 years, keep buying low, and wait for Democrats to come back and fix things in their next term. The same cycle

by paxys 2y ago

The standard move is to hunker down for the next 4 years, keep buying low, and wait for Democrats to come back and fix things in their next term. The same cycle has repeated what, 5 times in the last 30 years?

davidw 2y ago
These people are breaking things that cannot be fixed quite so easily. Things like the trust of other nations. Scientific research. There are a lot of things that will take a generation or more to repair, if ever.
- stvltvs 2y ago
  They seem to be doing their best to break the American wealth machine so bad that we could see lost decades like Japan did.
Trasmatta 2y ago
Hopefully there's still a free and fair election in 4 years. That might be contingent on how well Democrats do in next year's election. We need Congress back.
swarnie 2y ago
Or look somewhere else. I'm not sure i want to stick money in a country that could implode every four years.
atypeoferror 2y ago
To be fair, the sub-prime lending crisis had its roots firmly in Clinton-era repeal of Glass-Steagal, so it’s not all so easy. No particular love for the Republican Party, but it’s a problem created by the Democrats, which they then patched with the inferior Frank-Dodd. Plenty of stupidity to go around, I would say.
- rayiner 2y ago
  Glass-Steagal was repealed by a GOP Congress. And the 2009 bailouts were Obama’s implementation of a plan devised by the Bush administration. That said in economic and trade policy there’s not much difference between Reagan/Bush/Clinton/Bush/Obama. All support free movement of goods and labor. The only difference was in how big of a welfare state to have to mitigate the negative effects.
- Aunche 2y ago
  > the sub-prime lending crisis had its roots firmly in Clinton-era repeal of Glass-Steagal Not really. You'd just have very highly correlated financial entities that would have collapsed the exact same way. AIG received the largest bailout and wasn't even a bank. > they then patched with the inferior Frank-Dodd. Dodd Frank is why the finance sector was stable despite all the volatility introduced by the pandemic and inflation. The culture of banking has significantly shifted to being more conservative now, and risk has moved to the buy-side of trading, which is easier to let go of. Trump partially rolled back regulations such that banks under $250 billion no longer had to had to conduct stress tests, and bank collapses occurred all the way up to that threshold.
AlecSchueler 2y ago
The standard relationship with the US is gone, though. I've been moving everything out and it won't be coming back regardless of what happens in 4 years time.

by paxys 2y ago

davidw 2y ago

These people are breaking things that cannot be fixed quite so easily. Things like the trust of other nations. Scientific research. There are a lot of things that will take a generation or more to repair, if ever.

stvltvs 2y ago
They seem to be doing their best to break the American wealth machine so bad that we could see lost decades like Japan did.

Trasmatta 2y ago

Hopefully there's still a free and fair election in 4 years. That might be contingent on how well Democrats do in next year's election. We need Congress back.

swarnie 2y ago

Or look somewhere else. I'm not sure i want to stick money in a country that could implode every four years.

atypeoferror 2y ago

To be fair, the sub-prime lending crisis had its roots firmly in Clinton-era repeal of Glass-Steagal, so it’s not all so easy. No particular love for the Republican Party, but it’s a problem created by the Democrats, which they then patched with the inferior Frank-Dodd. Plenty of stupidity to go around, I would say.

rayiner 2y ago
Glass-Steagal was repealed by a GOP Congress. And the 2009 bailouts were Obama’s implementation of a plan devised by the Bush administration. That said in economic and trade policy there’s not much difference between Reagan/Bush/Clinton/Bush/Obama. All support free movement of goods and labor. The only difference was in how big of a welfare state to have to mitigate the negative effects.
Aunche 2y ago
> the sub-prime lending crisis had its roots firmly in Clinton-era repeal of Glass-Steagal Not really. You'd just have very highly correlated financial entities that would have collapsed the exact same way. AIG received the largest bailout and wasn't even a bank. > they then patched with the inferior Frank-Dodd. Dodd Frank is why the finance sector was stable despite all the volatility introduced by the pandemic and inflation. The culture of banking has significantly shifted to being more conservative now, and risk has moved to the buy-side of trading, which is easier to let go of. Trump partially rolled back regulations such that banks under $250 billion no longer had to had to conduct stress tests, and bank collapses occurred all the way up to that threshold.

AlecSchueler 2y ago

The standard relationship with the US is gone, though. I've been moving everything out and it won't be coming back regardless of what happens in 4 years time.