Message from @chad
Discord ID: 533368320355860511
This is what I mean by , any recession you look at. You'll see it's only government intervention which has caused it.
1817, 1847, 1854, 1873, 1893, 1908 etc etc
I’m not reading that
In summary the government
Gamer
The sources I find always seem to go against what you post.
Yeah it's because they ignore it
It's the same way the ignore the causes for the '29 and '08 crisis
Every recession you find, It always links back to state intervention and the Austrian business cycle theory
Japan was a great example
They tried so many fiscal stimulus' that Keynesian economics praise as a way to recover from recessions, but they all failed and didn't do anything
the recession in Japan continued into the 2000s
The "lost decade"
In addition, we haven’t had this type of national ban run and failure crisis since the modern federal banking deposit insurance and regulations system was established
national ban run and failure crisis?
2008 was probably the closest to that
yeah the 2008 crash was caused by a regulation
and cheap credit policies
But still not a failure of the traditional banking system, rather the investment banking system
I'd say a failure of central planning
central banks
It was CHAD
The CRA ( community reinvestment act). The CRA evolved through times and got hard pressed by regulators over the years until in 2008 it all popped.
This was a regulation that forced banks to give loans out to people who couldn't pay it back. This led to bad loans being created which caused a boom and bust.
Not against normal banks, but central banking
things like the FED should not exist
It was caused by banks trying to fulfill a new demand from both the government and investors of loaning to low-income households
The whole reason they lent to low income households was the government itself
and not to mention the cheap credit
2 things that caused the crash
You can’t really pin this all on the government
Not repealing of any regulation
Theres nothing else I can blame
It was overwhelmingly a private search for additional profit
Well they were hard pushed by regulators to make these loans
Miscalculation by financial institutions is what is to blame for most, not all, of the crisis
Not hard pushed
They wouldn't have if they weren't regulated.
Extremely hard pushed
What even is this debate about, whether regulations are good or not?