Message from @Cortah
Discord ID: 667539222382772240
hit em with that 1921 recession that blew over
Guaranteed accounts of the banks clients meant if they crash and collapse the government will be there to bail it out
Im not saying the banks are innocent Im just saying the answer to these issues isn't more government involvement because thats where these issues get exacerbated
Ye
Again. I agree that is wrong. But what I am saying. The government wasn't as involved. They basically sat a cookie jar in front of a bunch of kids and walked away. They put too much trust in the banks and let them have at it.
The government enabled this behavior but it was ultimately the fault of the banks for doing what they did.
The banks were made to be monopolies by the government, adding more government won't help that. It will only enable private businesses to exploit the power government has over the economy. Government guaranteed anything removes business risk so people will just spend and spend and spend
Spending doesnt hold up an economy, only creates a bubble
remove government, reincentivise saving and investment by removing lack of risk
AS my boi would say
If you put the federal government in charge of the sahara desert, in give years there'd be a sand shortage
The government was extremely involved, like with your analogy bush said wallstreet got drunk but people forget who gave them all the alcohol.
If the government wasnt involved it wouldnt have been this bad thats why they shouldnt be involved, because then they cant leave those cookies there in the first place.
Banks would have just not lent out way to much money and used loads of cheap credit on the stock market because they needed to chase yield because interest rates where so artificially low.
If you let the government get more involved you'll just get the same result, the "Lack of oversight" isn't going to go away if when the government shows to fail at these things you give them even more things they can get wrong.
remove the government from the situation the banks wouldnt have had access to cheap credit and wouldnt have been told to lend to people who arent actually able to pay back loans, with the government also telling people that they are basically insured by the tax payer.
*ahem*
NEEEEERRDDSSS.
LMAO OWNED PHAM
UR THE NERD, NERD
Big lad
Schiff
You linked two random peter schiff videos
@Dragun9500 @Cortah Free tomorrow if u wanna chat about this in VC
@Dragun9500
This is Peter Schiff talking to mortgage bankers in 2006 about how the subprime mortgage crisis is being set up to crash the economy
So what do you guys think would have prevented these and other crashes? Leaving banks unregulated?
**GRENADA**
We all gonna die anyway who giving cares
Owie! ๐ฑ (I just had dental work done and it fuckin hurts.) This picture is painful to look at lol!
@Dragun9500 Yeah removing the government element would have meant that the recession would have passed over. Government made it worse by the guaranteed free money meaning the banks could throw their money without risk
Not a fan of Fox, but seriously not a fan of the rep they are talking about.......https://twitter.com/atensnut/status/1217997147066576896?s=19
@The Librarian tucker is great
I have no issuewith tucker, just fox overall, im not a fan. He does bring forward some interesting points
Yeah was always weary of fox but Tuckers fine.
@Cortah the other media outlets are just as troublesome