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Tag Archives: 2008 Financial Crisis

Nothing grows Forever

One serious predicament we face is that the current leaders in the halls of monetary and political power do not appear to understand the dimensions of our situation. The mind-boggling part about it is that the situation is easy to understand. Our collective predicament is simply this: Nothing can grow forever. Sooner or later, everything must cease growing, or it will exhaust its environs and thereby destroy itself.  The Fed is busy doing everything in its considerable power to get credit (that is, debt) growing again so that we can get back to what it considers to be “normal.” But the …

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How Racial Egalitarianism Wrecked the Global Economy

To get the story about race and bank loans clear, all you have to do is take everything you know about the relationship between race and crime and switch around a few words.  Ask a liberal to explain the causes of the 2007 financial crisis, and xie’ll lay much of the blame at the feet of deregulation. The main policy targeted by this charge is the Glass Steagall Act, which was effectively repealed in 1999. To be fair, the repeal of Glass Steagall did allow banks to grow larger (for example, J. P. Morgan and

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