[quote=FlyerInHi]”Destroyed economy” is totally inaccurate.
GDP now is well above the peak before recession. There was a recession, but no destruction.
Productive capacity has always been there, but lack of liquidity idled resources. The financial system nearly collapsed and the Fed restored liquidity and avoided a collapse.
Money is man-made and an artificial constraint. Nothing in the physical universe prevents people from working. But they won’t work without money.[/quote]
And just consider for a moment that if interest rates were to normalize, that govt debt would destroy the budget (which is the real reason for the Fed’s sitting on rates for so long, IMO).
