Quote:
Originally Posted by Enoch Root
Then they didn't understand.
I don't think there is any question that for Calgary and AB, the headwinds today are worse than 2008. But for global markets, there is no comparison.
Yes, a $2T bailout is a big concern, but it is designed (rightly so, IMO) specifically to keep this slowdown short, and to keep people liquid. If it results in the recovery being quicker and sooner, then the extra funds are worth it.
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My point is I don't think it will be quicker. We just had a massive bullrun with the last couple of years being attributed to massive stimulus in the form of tax cuts and stimulus. I think we are in for some trouble because of this. Mr. Bumface brings up the points I'm concerned about - high levels of debt maturing, inability to really roll-over this debt nor people seemingly having an appetite to do this, inability to service said debt. And as Mr. Friedman postulated, we could very quickly get into a destabilization right out of the gate.