Two points here, first boom and bust is the inherent cycle of capitalism, which, while a pain in the arse for all of us, has provided us with the best life mankind has ever known, we live longer, eat better, never know hunger in a real sense and have TVs that hang on the walls like the bloody jetsons for gods sake.
Second point, the reason we are in a pickle is not because the banks screwed up, it is because 'we', as in our representatives the politicians, have spent the last 10 years screwing with the interest rates and other levers of finance to avoid the bust that should have come 6 years ago and the thing that has done the most damage at this stage is the fact goverments have borrowed vast sums in order to support unsustainable social programs, early retirement in Greece Italy etc, wars a vast military industrial complex in the US.
I say this as a socialist, even I can see that paying millions in Vancouver for bike lanes that could be put in for 20 grand is unsustainable.
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