I wonder how long they can postpone the inevitable.
Remember what happened in 2007 when housing values took a dip? The whole post-modern hellscape of government control of the economy almost completely collapsed. They will do anything to avoid that again – or at least postpone it, which is all they can do.https://twitter.com/trilskare/status/1085711856654725122 …
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They took the only gang on Wall St, that didn't chip in for the LTCM prequal, out to the woodshed and then wrote blank checks to the rest of them to reward loyalty. How did they get anywhere close to collapse? That is on the menu for round 4.
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Real prob: DemCongr
spending taking $150b deficit to $450B in FY2007, &FY2008 budget $1.6T def w/o any incr liquidity sucking money from mortgage credit markets. After 6y of more >$1T deficits, mult rounds of QE still hasn’t ended the prob. Curr def is interest on $20T debt.Thanks. Twitter will use this to make your timeline better. UndoUndo
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That's... probably true. But I also believe in Hanlon's razor. Perhaps the truth lies somewhere in between - banks and those in the debt industry lobby for socialist (school-) agendas, and the politicians love it for ideological reasons and prestige. Politicians != deep thinkers
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