Message from @chad

Discord ID: 533368320355860511


2019-01-11 18:21:10 UTC  

This is what I mean by , any recession you look at. You'll see it's only government intervention which has caused it.

2019-01-11 18:21:25 UTC  

1817, 1847, 1854, 1873, 1893, 1908 etc etc

2019-01-11 19:01:55 UTC  

I’m not reading that

2019-01-11 19:02:06 UTC  

In summary the government

2019-01-11 19:02:14 UTC  

Gamer

2019-01-11 19:29:58 UTC  

https://cdn.discordapp.com/attachments/418667927169138688/533366985401040899/image0.png

2019-01-11 19:30:54 UTC  

The sources I find always seem to go against what you post.

2019-01-11 19:32:01 UTC  

Yeah it's because they ignore it

2019-01-11 19:32:15 UTC  

It's the same way the ignore the causes for the '29 and '08 crisis

2019-01-11 19:32:57 UTC  

Every recession you find, It always links back to state intervention and the Austrian business cycle theory

2019-01-11 19:33:02 UTC  

Japan was a great example

2019-01-11 19:33:22 UTC  

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

2019-01-11 19:33:28 UTC  

the recession in Japan continued into the 2000s

2019-01-11 19:33:32 UTC  

The "lost decade"

2019-01-11 19:34:26 UTC  

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

2019-01-11 19:34:39 UTC  

national ban run and failure crisis?

2019-01-11 19:34:51 UTC  

2008 was probably the closest to that

2019-01-11 19:35:03 UTC  

yeah the 2008 crash was caused by a regulation

2019-01-11 19:35:05 UTC  

and cheap credit policies

2019-01-11 19:35:10 UTC  

But still not a failure of the traditional banking system, rather the investment banking system

2019-01-11 19:35:17 UTC  

It was caused by not enough regulation

2019-01-11 19:35:22 UTC  

I'd say a failure of central planning

2019-01-11 19:35:24 UTC  

central banks

2019-01-11 19:35:26 UTC  

It was CHAD

2019-01-11 19:35:40 UTC  

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.

2019-01-11 19:35:59 UTC  

Not against normal banks, but central banking

2019-01-11 19:36:03 UTC  

things like the FED should not exist

2019-01-11 19:36:11 UTC  

It was caused by banks trying to fulfill a new demand from both the government and investors of loaning to low-income households

2019-01-11 19:36:33 UTC  

The whole reason they lent to low income households was the government itself

2019-01-11 19:36:39 UTC  

and not to mention the cheap credit

2019-01-11 19:36:44 UTC  

2 things that caused the crash

2019-01-11 19:36:46 UTC  

You can’t really pin this all on the government

2019-01-11 19:36:49 UTC  

Not repealing of any regulation

2019-01-11 19:36:53 UTC  

Theres nothing else I can blame

2019-01-11 19:36:55 UTC  

It was overwhelmingly a private search for additional profit

2019-01-11 19:37:09 UTC  

Well they were hard pushed by regulators to make these loans

2019-01-11 19:37:15 UTC  

Miscalculation by financial institutions is what is to blame for most, not all, of the crisis

2019-01-11 19:37:18 UTC  

Not hard pushed

2019-01-11 19:37:18 UTC  

They wouldn't have if they weren't regulated.

2019-01-11 19:37:22 UTC  

Extremely hard pushed

2019-01-11 19:37:28 UTC  

What even is this debate about, whether regulations are good or not?