https://www.youtube.com/watch?v=2BEvh6HSQc0

@TeletubbyCancer all I am hearing is that what lead to the great depression was a lack of protection and regulation from the government.

@Dragun9500 You didnt watch the video

Yeah, I did. He said that the federal reserve failIng the other banks is what lead to the great depression.

Federal Reserve is government

Gov caused the great depression my dude @Dragun9500

Why do you think the Federal Reserve is part of the government?

@Dragun9500 not to jump in and 2 v 1 this but what makes you think a bank that has the only government license to literally print money and manipulate interest rates is not somehow an extension of the government even if it's called a "private" bank.

Its a manipulation

Sell it to the public as a private asset despite the fact that its government controlled

@Blaundee @Syenite @Blackjax

@LOUS NYS

Dumfries my dude

Loche Doon

@Dragun9500

.

MUH ROADS

I mean

I like money

gimmie

https://gfycat.com/weightyunacceptabledugong

@Cortah by your logic then Boeing and Lockheed by extension are sub-branches of the US military because they develop jets used by the US military. They use federal loans to help develop said jets as well.

So let me ask you guys this. What caused the 2008 subprime mortgage crisis?

The exact same thing interest rates being set to 1% and increased liquidity being pumped into housing through subprime incentives.

Not glass stegal repeal

And who were the ones handing out these mortgages with 1% interest rates to people who could not afford them?

The interest for mortgages werent 1%

That was the fed funds rate

Where banks borrow from

So you're basically saying that the feds enabled this bad business practice of the banks due to their low-interest rates to the banks themselves?

Yes

And governments forcing subprime motgages

But you admit that the banks were the ones who were actually doing the bad business practices that lead to the crash correct?

Yes