On Nov 19, 10:58 pm, JosephKK <quiettechb
...@yahoo.com> wrote:
> Take a peek at this if this works:
> Blame Cheap money-Asian savings-Greedy banker-Deregulation (a prime
> suspect) for 2008 crash-A short history of modern finance-E
Actually, I think we can blame 30+ years of becoming way too
comfortable with debt. The lesson out of the Great Depression was
"Don't borrow". That lesson was lost by the 1980's. and by 2000 it
was out of control.
Both this and the great Depression came on the back of excess credit
cycles. These excessive credit cycles result in massive misallocation
of resourses, build up far too many obligations that cannot be
fulfilled and reward millions of non-producers along the way.
This can only be fixed with a big attitude shift about money and the
idea that we can have things today based upon future earnings rather
than based upon past earings.
