Quote:
Originally Posted by Weiser Wonder
What was it then? It was probably overregulation because that's the only way the collapse fits properly into FOL's worldview. Which we all know is the correct one.
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- artificially low interest rates (as low as 1% so when you take inflation into account they are actually negative!)
- Clinton's government policy of a free lunch (subprime mortgages to people who couldn't afford them because hey we're liberal we'll give everyone a house even if we have to bankrupt the country in the process!)
- belief that we can live off newly created fiat money and every time the bubble is about to burst we need to further inflate it by lending out more money
- inability to comprehend what happened - malinvestment, refusal to let the market correct itself and subsequent worsening of the problem (bailouts, moral hazard etc)
But yeah keep thinking thats it's just "my world"