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The us will get through this, a year, or two, probably not 3, from now we'll start growing again and get high inflation. Then the fed will raise rates to kill
by biohacker42 18y ago
The us will get through this, a year, or two, probably not 3, from now we'll start growing again and get high inflation.
Then the fed will raise rates to kill inflation, economic growth will slow down to a crawl and we'll begin paying off our debts.
This will last 10 to 20, just like Japan.
- asmithmd1 18y agoexactly right. And the system will be the same as before - nothing will have been done to address the heart of the problem - banks that are "too big to fail". Anything that is too big to fail is just too big. We have successfully broken-up companies that were too big before - AT&T comes to mind. Do you think we would have an open internet if one company controlled all access to long distance communication like AT&T did before 1984? http://en.wikipedia.org/wiki/Bell_System_divestiture http://en.wikipedia.org/wiki/Bell_System_divestiture
- randallsquared 18y agoEntities that are that big have big lobbies. Big lobbies give effective control of governing bodies (at least, in their limited scope); this is known as regulatory capture. AT&T was broken up by judge, not by Congress, so it is not a good counterexample.
- silentOpen 18y agoI don't think the parent cares how AT&T was broken up. Why not break up financial institutions through the judiciary? Oh, because the anti-trust laws are crippled...