- Joined
- Jan 2, 2006
- Messages
- 28,173
- Reaction score
- 14,269
- Location
- Boca
- Gender
- Male
- Political Leaning
- Independent
Really? You always point out the fact that people want to save so we need inflation to stop that.
When did i say that?
How is it that the financial system would have collapsed?
Are you kidding? AIG's inability to honer their insurance swaps instantaneously devalues a considerable amount of securities held by financial institutions across the globe. The FDIC would have been liable for trillions upon trillions, not billions.
Would a lot of companies gone under? Yes, and I say good. Some banks would have stuck around, and they would have gotten all the savings.
You mean whatever savings were left? Your greenness shows through a statement such as the one above....
Just get rid of FDIC and people would take care to research where they are saving their money.
Research does not prevent a bank run or insolvency.
Oh yeah, I'll be so glad that money will be wasted via government spending on things that I don't want. That's the way to have an economy responsive to your needs.
Would you like some cheese?