This debate continues to come down to two questions
1. Would the banks have failed had Bush II (followed by Obama) not begun infusing the system with cash,; and
2. If it would have melted down what would the fallout from such an event have been?
Based on the fact that BOTH parties bought into the meltdown theory I can only assume that they were of the opinion that the meltdown would have been so bad that the very existence of the nation was threatened.
Were they right?
According to the Misesians, no.
According to the people in charge of the economy, yes.
NONE of us are really in a position to know for sure.
1. Would the banks have failed had Bush II (followed by Obama) not begun infusing the system with cash,; and
2. If it would have melted down what would the fallout from such an event have been?
Based on the fact that BOTH parties bought into the meltdown theory I can only assume that they were of the opinion that the meltdown would have been so bad that the very existence of the nation was threatened.
Were they right?
According to the Misesians, no.
According to the people in charge of the economy, yes.
NONE of us are really in a position to know for sure.