Read the “House of Cards” thread (or better, watch the show). We were officially supposed to have a real and severe recession in 2001, after the dotcom bust and most certainly after 9/11.
The government intervened and “saved” us. Bush told us to go shopping and credit was looser than whores in Vegas. Who could resist free money, b/c that’s basically what it was.
They succeeded in procrastinating the recession for years, basically diverting it until recently. But even today, they are still trying to push it back. Nobody wants it on their watch.
I just don’t know what it would take to do it. After watching that show, it only gives you a glimpse of the vast amount of money spread around. Pizza delivery guys turned mortgage brokers making 20k a month. Third grader opens mortgage company making 5 million a month and CDOs to the tune of 4 million a month.
Any government bailout so far is just chump change. Be hard to reverse. All they can hope for at best is a slow down until they think of another scheme to conjure up – or a miracle.
Maybe if the government forces banks to do 4% loans. But as said on that thread, when that well runs dry, then what. This just continues to be an act of putting off the inevitable.
Our jobs were outsourced, so we played monopoly w/make believe money/numbers – and spread it around the world.
