Friday, July 20, 2018

Beware Hazardous Immorality

Nothing was learned in 2008. Why? Because Idiocracy's don't learn...

Ten years from the Global Financial Crisis, and risks have increased astronomically. The delusion of the day is that we successfully borrowed our way out of a debt crisis. The policy response to 2008, which featured a free-money bailout for Wall Street, a doubling in the U.S. debt to bailout corporate profit, and $4.5 trillion in printed money to bailout the casino, set-up the inevitability of a far worse crash...

mor·al haz·ard
lack of incentive to guard against risk where one is protected from its consequences

"A decade after the 2008 recession, the policymakers who countered it on its front lines are worried that the U.S. may not be adequately armed for the next economic crisis."

“We let the financial system outgrow the protections we put in place in the Great Depressions and... made the system very fragile and vulnerable to panic.”

Current efforts are underway by Congressional Republicans and President Donald Trump to dismantle parts of the Dodd-Frank Act

Geithner expressed concern that the emergency powers they were able to draw on in 2008 are “somewhat weaker” today