You people can't be real!
It's clear none of you have actually looked at what happens during and after a financial panic. It's also clear none you understand aggregate demand. Let's put it like this: Six years ago you people had a choice, a potentially devastating depression like none other because of how integrated the world is or the Obama slow dragging recovery.
And that housing thing, OMG, it was right every day of every week of every month all the way to the top where that selll post called the top.
I don't know anything about your housing thread, but if it was half as bad as your knowledge of macro economics, then I can just imagine the circus it must have been.
I have more news for you. Regarding the Obama "slow dragging recovery". There's no recovery, Covertibility. None. Oh, sure, stocks are at all time highs because of money
printing (yes, I notice how you dodged my response on that), but main street hasn't recovered. Economic metrics like GDP and spending have all mortgaged the future through the acquisition of
more debt. More debt cannot solve problems caused by debt, and eventually all you crazies will get that. All you do when you borrow is take money from the future in order to sustain the purchasing power of today. That's it. Unless you plan on forgiving all that debt, someone has to be paid in the future, and with future earnings. Those future earnings are subtracted from future wealth and you're forced to borrow more in order to maintain standard of living.
You are right about one thing, though, it would have been a devastating depression had we allowed the system to reset itself after the financial panic, but we're going to get that anyway. All we've done it guaranteed to make it worse down the line. Printing almost $4 Trillion and spending like we have during the last 6 years to get what little positive we have is proof of this. If we had done this during a real recovery, we'd be soaring around 7-10% GDP. But there are structural flaws that should have been addressed after the crash that never were. Instead, we doubled down on the same corruption, the same rotting financial system devoid of control and
proper regulation (I emphasize "proper" because Liberals will leap to the argument that it was the lack of regulation that caused the crash, when it wasn't. It was the lack of enforcement of the
existing regulations). We didn't learn our lesson, and so we'll be back at it again soon.
But I love the analogy I heard from Jim Grant (think it was him) a year after the financial crisis occurred: "Personally, I'd rather throw up for 6 months straight rather than opting to be nauseous for 20 years". We've chosen the latter, and then we'll have to do the former.
Anytime, and I mean
anytime, you want to debate facts and numbers with me on this, you feel free to start it.
