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Nearly every boom since at least 1913 has been, at least partially, debt driven.....It's the nature of worthless fiat money and central banks.
True as that is, the debt was privately held and liquidated after the bust...Since 1913, the Fed has kept re-inflating the bubbles, then "capitalism" (such it is under a regime of central banking and debt-based currency) gets the blame.Nearly every boom before 1913 has been, at least partially, debt driven.... it's human nature and leverage.
True as that is, the debt was privately held and liquidated after the bust...Since 1913, the Fed has kept re-inflating the bubbles, then "capitalism" (such it is under a regime of central banking and debt-based currency) gets the blame.Nearly every boom before 1913 has been, at least partially, debt driven.... it's human nature and leverage.
We also had quick recoveries and liquidations of bad debts...Bailouts were unheard of.We had worse bubbles and busts before 1913 than after 1913.
We also had quick recoveries and liquidations of bad debts...Bailouts were unheard of.We had worse bubbles and busts before 1913 than after 1913.
For a few, yes....For many, massive bailouts and corporate shotgun weddings.We also had quick recoveries and liquidations of bad debts...Bailouts were unheard of.We had worse bubbles and busts before 1913 than after 1913.
We also had quick recoveries and liquidations of bad debts
You don't think we had liquidations of bad debts after 2008?
For a few, yes....For many, massive bailouts and corporate shotgun weddings.We also had quick recoveries and liquidations of bad debts...Bailouts were unheard of.We had worse bubbles and busts before 1913 than after 1913.
We also had quick recoveries and liquidations of bad debts
You don't think we had liquidations of bad debts after 2008?
They get bailed out with taxpayer loot or money printed out of thin air.....Or you get corporate shotgun marriages (i.e. Merrill Lynch & BoA) where one is forced to eat the bad debt of another.What happens to bad debts that aren't liquidated?
They get bailed out with taxpayer loot or money printed out of thin air.....Or you get corporate shotgun marriages (i.e. Merrill Lynch & BoA) where one is forced to eat the bad debt of another.What happens to bad debts that aren't liquidated?
Pretty fucked up.
Who started buying a fuck ton of MBSs?They get bailed out with taxpayer loot or money printed out of thin air...
What does that even mean?
Countrywide wrote a shitload of crappy mortgages.
Bank America stupidly agreed to buy Countrywide.
Over time, Bank of America sold the crappy mortgages off at a huge loss or foreclosed on the crappy mortgages
and sold the homes at a huge loss.
The crappy mortgages were liquidated and any short term loans B of A got from the Fed or Treasury didn't prevent those losses or cover those losses. Not even a little.
Who started buying a fuck ton of MBSs?They get bailed out with taxpayer loot or money printed out of thin air...
What does that even mean?
Countrywide wrote a shitload of crappy mortgages.
Bank America stupidly agreed to buy Countrywide.
Over time, Bank of America sold the crappy mortgages off at a huge loss or foreclosed on the crappy mortgages
and sold the homes at a huge loss.
The crappy mortgages were liquidated and any short term loans B of A got from the Fed or Treasury didn't prevent those losses or cover those losses. Not even a little.
