- Joined
- Apr 8, 2008
- Messages
- 19,883
- Reaction score
- 5,120
- Location
- 0.0, -2.3 on the Political Compass
- Gender
- Undisclosed
- Political Leaning
- Other
It would have self corrected, it just would have been painful to go through.
Explain to me how you self corrected when everyone is wiped out. Explain to me how you self correct when your currency is not worth the paper it's printed on. Explain to me how you self correct when there is no financing available. Essentially, we'd be looking at a financial Marshal plan from Europe and China. God forbid that.
In some ways, it would be epic Karma to be forced to take a "Economic Stabilization Plans" that fracked up so many countries from the IMF that we shoved down their throats ourselves.
Why do you think I wanted to bitch slap McCain when he "rushed back to DC to help moderate the bailouts?
This doesn't address what you quoted. When the dollar is no longer used as a currency reserve and as the medium of oil exchange, both highly artificial constructs that interfere with the market principles of actual value, we're going to get the shaft we've prolonged for decades. The dollar's value hasn't been accurate in the market for decades because of artificial constructs in the market. But you don't here the absolute pro-market people saying a thing about removing them for the good of the market. Hypocrites.
I think it's scary likely.
It really depends on how well the economy picks up within the next five years and how big a surplus Congress can build to reduce the debt. As I've been saying for years we're going to have to jack up taxes and cut spending to have any hope of getting out of this hole.