Yellen: Banks 'very much stronger'; another financial crisis not likely 'in our lifetime'

cdcaveman said:
Whose lifetime!!!!
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She's right, a financial crisis like 2008 was a once in a lifetime type event. Remember, this has nothing directly to do with stock markets, a common misconception on this forum. The Fed has done a good job preventing the Depression in the US that some on here thought was inevitable. You can argue all you want about the inefficiencies of how they did it. And the end result isn't as dire as people make out. US federal debt is quite high compared to GDP but not to a level that is out of control; Canada had similar levels decades ago and got through it with higher personal taxes.

Now if Trump adds a shit load more debt by increasing spending and not raising taxes ( indeed, even reducing taxes on rich people ), his expectations of some form of trickle down solution will not occur and he'll expand the debt even more. Eventually somebody American will have to pay it down. Baby boomers are passing the buck once more on this is seems.
 
They're the ones who direct the credit of the entire country, and they are solely responsible for dictating when we will go into said recession. Surely, banks do control their lending, but only under the guise of the primary dealers. Don't play coy Janet.

Our recession is almost here.
My prediction is the start is the end of this year.
But hey, what do I know?
 
Nine_Ender said:
She's right, a financial crisis like 2008 was a once in a lifetime type event. Remember, this has nothing directly to do with stock markets, a common misconception on this forum. The Fed has done a good job preventing the Depression in the US that some on here thought was inevitable. You can argue all you want about the inefficiencies of how they did it. And the end result isn't as dire as people make out. US federal debt is quite high compared to GDP but not to a level that is out of control; Canada had similar levels decades ago and got through it with higher personal taxes.

Now if Trump adds a shit load more debt by increasing spending and not raising taxes ( indeed, even reducing taxes on rich people ), his expectations of some form of trickle down solution will not occur and he'll expand the debt even more. Eventually somebody American will have to pay it down. Baby boomers are passing the buck once more on this is seems.
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Well I have to say...I outright disagree with you... It seems these days everyone wants to argue about what type of intervention is wrong or right and never look at it from the perspective that intervention in the markets altogether it's wrong..... You can't know what would have happened if the FED wouldn't have stepped in now it seems to most people that they take the perspective that the Fed was the oil saving element of the United States economy. Which I believe to be false as well all they did is bailout people that took exorbitant risk and never had to pay the price...this type of support for bad behavior will have a very bad effect in the long run.... I'm fully with the Austrian Economist Ludwig von mises in this respect and I would advise you to look a little bit further into economics in general with your statements the credit cycle is directly tied to inflation monetary policy every bust and bubble we have had is due to government intervention the corrections are as a result of whatever's left of the free market that we still have... So.. maybe don't learn your economics from cnn or fox... Trump is just another Interventionist. It's either big spending on social issues or big spending on military and infastructure... It's never just stay out of our life . We are Americans we told the monarchy to go screw themselves because of some small tax.. now most believe a income tax of 30-40% is a good thing. What a joke.. taxation is theft!!! Inflation is theft... All the FED has ever done is diluted the Working Class People and fixed-income retirees and paid out to the first receivers of the money mostly bankers so I don't want to hear this b******* about the FED doing as favors or saving us it's a lie
 
The only way to fix the quagmire we are in is to let it reset. Yes many will get hurt. The process is starting. News on banks overnight is just the start. It's a feel good moment for them and their investors.
 
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