No wonder the USA is a basket case, page-7

"So the free market regulated itself leading into the GFC????????"
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I can't tell if you are being cynical but capitalism was more Austrian school rather than Keynesian bias.

Post-GFC solutions were considered socialism (nationalism or part thereof) and all the moral hazards associated by not letting the froth remove itself. This was then followed by massive QE and since then the financial markets in general have been addicted to this type of debt masking structural economic defects. They repeated the same QE exercise in the Pandemic but on steroids.

I don't much about US politics to understand why the borders are so porous but I read somewhere that illegals can register to vote.