BasharOfTheAges wrote:The markets rebounded pretty well today for impending doom.
I think we honestly need to let this play out. Our economy is all smoke and mirrors at this point and the constant, rapid growth of the past 20 years is not a feasible long-term thing. It can't go on indefinitely, especially when so much of it was built on money that isn't real and debts that can never be repaid.
It doesn't help when a debate that should center around logic has so much emotion tied to it. Nobody wants to look like the bad guy for saying "well, we were stupid and should probably have to pay for it sometime - either do it now or have it be 10x worse in a decade or two."
There's a difference between disagreeing with rapid growth/expansion and having NO growth (or very little).
No banks means no loans for even smaller businesses (not just dotcoms and stuff...mom and pop stores included). That also means less loans to home owners who AREN'T risky (They are no viewed as risky...nearly all loans are). That will bring the economy to a HALT, not slow it down. Bad economy = less jobs. Less jobs = more people in poverty...and on and on.
There's a HUGE difference and I'm surprised anyone would surprise NO growth and NO lending.
gl; hf
gg US economy


