Quote:
Originally Posted by competentone
And would be ending at the end of 2008 as all the "bad actors" would have been wiped out completely.
With the current situation the "bad actors" and "zombie businesses" are being kept afloat at the expense of the "good actors" and solvent businesses.
The government is destroying the healthy in the economy in order to save the sick and dead and especially the corrupt.
Not allowing failed businesses -- and especially, not allowing the failed financial system to collapse -- is creating another Great Depression.
"Pretending" it's not there, doesn't mean it's gone away.
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The weakness in your thinking is that "good actors" would have been wiped out too. MSFT a company with not 1 cent of debt could not survive without customers. No-one would survive it. If you think they would, you don't understand how intertwined the financial services business' are on one another, and how dependant all business' are on the financial services industry. You could not have stopped the dominos from toppling over. The collapse you keep on insisting on would have resulted in ZERO, which isn't good even if it happened in '08.
On principal everyone agrees with the idea that those who took the risk should pay for it, but when the cost of making them pay for it takes everything with them all the sudden any ration person doesn't want to live on principal alone.
Your talk of collapsing the entire financial system is just chest thumping talk. If you collapse the system what would you replace it with, and how are you prepared to handle that world? Can you survive without food, without fuel, without ammunition, without money, or without medical attention? And if you can survive without all that, can you defend yourself against 1000's of people who will kill you for what you have?
If you have gold and think you are safe because of that I have some news for you. It is a soft shiny metal that is not good for much of anything. It is only your belief that it is worth something that makes it so, just the same as the paper money in your pocket that you loath so much. If you only have a piece of paper that says you have gold then your no better off than any fool holding Lehman brothers stock. In your world whether you want to admit it or not possesion becomes 10/10ths of the law.
I'm sorry but even if we are heading into a great depression it is shorter and shallower than what your peddling.