As someone pointed out what youre calling GFC2 is still GFC1 and it isn't going anywhere is a hurry. We all know the story, private debt shifted to public debt (GFC1), public debt of individual countries shifted to public debt of a bunch of countries (GFC2). Maybe next step is - public debt of a bunch of countries shifted to public debt of every country (GFC3 if handled well, WW3 if handled poorly). Reality is public debt is paid in taxes and austerity, so we are all going to cop it. Sad thing is large banks and weak governments are entirely responsible and are the ones being rewarded. Giving money to people, institutions or governments that are mismanaged doesnt work. These things need to be let fail and then get rebuilt in working order, this will just get worse and worse until that finally happens. Survival of the fittest, it is how it should work, intervention will only delay the inevitable. For how long who knows.
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As someone pointed out what youre calling GFC2 is still GFC1 and...
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