(06-03-2020, 01:28 PM)Protheroe Wrote:(06-03-2020, 12:22 PM)Shabby Russian Wrote: The idea that you could have let 50% of the High Street banks go to the wall and there wouldn't have been some serious economic chaos is for the birds.
Christ, it's the same when we discuss the NHS on here, it's either one extreme (UK) or the other (US).
Do you not think the complete debasement of the concept of sound money and risk is serious economic chaos?
The new economic chaos we're about to find ourselves in will build on the economic chaos we've been in for a decade already - and will have exactly the same detrimental effects as the stupidity of nations (and gullibillity of subjects) worldwide in 2008/09:
Zero interest rates
Suppressed wages
Massive and growing pensions black holes
Asset price inflation beyond all fundamental logic
Housing affordbility for anyone without equity
Huge government debt
There were perfectly reasonable and legitimate ways to protect depositors whilst letting the market punish banks for their largesse. I'm sorry if you're all so blinkered that you think the only option was Brown's underwriting of the commercial sector with your kids and grandkids future.
Like I said in 2009 - #BuyGold before they make it illegal for you to hold it. It's the only store of value left in the world.
Open another thread on the topic if you're bored of this discussion