Many economists say that if the bailouts didn’t happen, a few banks and their investors would have lost some of their money, and the world would have moved on.
But the bailouts happened because these people claimed the entire worldwide economy would “collapse”.
This is the biggest crime of our time… inspiring crippling fear of “total economic collapse” where Hollywood directors would have everyone’s head exploding simultaneously.
But what we really have isn’t a threat of “total financial collapse”—just a big crash. A lot of people would lose a lot of money, but it would be very much like 2008 was… and 2001 was.
Maybe more widespread and maybe deeper losses. But no exploding heads or cannibalism.
The fuel for the economy is [Read more...]