"We're going to have another crisis. It's baked into the cake."
He was right. 2008 made Black Monday look like peanuts.
And the problem was the same 10 years ago that it is today. Investors selling trash to each other without any fear because there's no risk. We were talking about moral hazard a decade ago but we still managed to tank our economy by depending on the too-big-to-fail. Taxpayers the world over will always be forced to cover the cost of the Monopoly-players' mistakes.
@oraclecrank isn't that right. >__> I didn't know much about any of this. Thank goodness my teacher made this a class project. It's a real eye-opener.
PBS/establishment at its finest. The Thai and Russian governments screw up big and who is to blame? Markets.
We don't have enough capitalism. I mean does anyone here see a separation of state and economy? Is there only courts, cops and military?
Is there free banking and private banks issuing currency backed by market money?
Do we have 0 taxes/regs?
Free trade > mercantilist WTO?
Rule of law — laissez faire?
Are we destroying threats? Totalitarian Islam — wiping out the Iranian regime?
yankeewh1te 3 months ago
truth...MARKETS CAN'T BE REGULATING.... there you go....end capitalism.
spiritedemma 7 months ago
"We're going to have another crisis. It's baked into the cake."
He was right. 2008 made Black Monday look like peanuts.
And the problem was the same 10 years ago that it is today. Investors selling trash to each other without any fear because there's no risk. We were talking about moral hazard a decade ago but we still managed to tank our economy by depending on the too-big-to-fail. Taxpayers the world over will always be forced to cover the cost of the Monopoly-players' mistakes.
oraclecrank 1 year ago
@oraclecrank isn't that right. >__> I didn't know much about any of this. Thank goodness my teacher made this a class project. It's a real eye-opener.
kumikoangeloflight 1 year ago