they were basing it off the fed's interest rates

they wanted to stimulate the housing market

so they tried stimulating the housing market

they ended up stimulating the housing market too much

then pop

I am not sure markets are the best way to make sure people get what they need, maybe what they want but not what they need

markets are the only way people can get what they need

without markets, you must either make your own food daily or have the government feed you

and the government will not feed you, you can bet on that

hasn't the state provided goods and services in the past and made sure the it was based on need over wealth?

well, they have provided goods

what about healthcare many modern western nations have universal healthcare

however, every time a government does this for a certain sector of the market, it ends up doing a worse job than the private sector

The subprime mortgage crises contributed to the recession, yes. Subprime lending and speculation were major factors. What preceded the crisis was a housing bubble financed with mortgage-backed securities and collaterized debt obligations which initially had higher interest rates than government securities.

no matter how good it may sound, giving the government power over some market always makes it worse

needed medical care is run by the state, luxury medical care like cosmetic surgery is a private affair

well yes, and the fed stimulated that bubble

if healthcare was left up to the private sector, that will lead to competition, which means = higher quality care and lower prices

in the long term it will be beneficial

moving from government to private is always a rough transition in the short term

I wouldn't be so against tmarkets and private sector if distribution of goods and services weren't solely based on income and were based on need

well that is the thing

that may be the case, but the government can't provide for peoples' needs

it's impossible

you've seen it tried in the ussr

then what happened

food shortages

starvation

bread lines

not just in the ussr

if that is so why isn't the country with the highest life expectancy a country with only private healthcare?

cuba

name other socialist states

everywhere you will find food shortages

I think the main issue is the lack of democracy in situations of a command economy

no, the problem is the command economy

democracy just lets you elect a new dictator in a command economy

if you have people having no say in what needs to be produced and leave it to bureaucrats you are probably much worse off

well yes of course

I am not for a total command economy I would like to make sure the state provides the needs of the people but I would like to see some luxury items provided by the market

well see you're missing the point of the free market