I think we are verging on apples to oranges territory, so I'll keep my comments about our country and its monetary policy.
Quote:
Originally Posted by parsonsj
Tying this back to home: this scenario is similar to the US -- our economy was wrecked by risky trading of mortgage-backed securities that resulted in a housing bubble that burst when investors misread the risks.
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And thank goodness we have our own currency, and a Fed that can intervene to prevent disaster.
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2 clear points:
1. Our economy was wrecked because
the Fed fixed interest rates too low for too long creating a housing bubble.
2.
That led to the risk behavior by the banking industry. The largest players knew the Fed will bail them out. So the Fed bailed out themselves basically, since the largest banks are the cartel that makes up the Fed. So they went hog wild, because they could, got bailed out and passed the losses and depression onto us, the taxpayers.
I think this tells us everything we need to know. These clowns who caused the problem, do not know how to fix it.
I probably wont get an answer, but I'll ask anyway: John, don't you find in suspicious that these Treasury Secretaries are straight from Goldman Sachs? And that's just one example.