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by marcus_holmes 2266 days ago
Well, we didn't actually have the collapse in 2008. It all got propped up in the vain hope that the banking sector would stop doing stupid risky things.

Now we have the same choice. We can prop it all up again, in the vague hope that bankers will change their behaviour. Or we can let Wall St go to the wall.

If we do prop it up, we have to know that we'll need to do that again in another 10 years, and again after that, and so on. Until the bankers change their behaviour.
2 comments
andrepd 2266 days ago
The only thing that would change the status quo would be personal responsibility to the criminals in charge, the actual persons, not a vague concept of "system". Those that rigged the game, that live luxurious lives beyond our dreams off bailouts that we paid in a crisis that caused suffering to billions of people.

If those responsible got life sentences en masse for their crimes which probably killed far more people than any serial killer could hope for, then maybe their ilk would think twice before doing that. When punishment is effectively ZERO, then why not risk it?

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hirako2000 2266 days ago
It's a tight community that instigate and tolerate financial practices that ultimately aren't benefiting of the average Joe, quite the contrary.

It's there for a reason, the same reason it's not stopping.

Unless there is a chance to beleive in representatives to truely represent the population, it's a dead game.

We will slowly turn to cryptocurencies and detach ourself from this non sense system of taxation and fiat decisions that are totally out of our control.

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andrepd 2266 days ago
>We will slowly turn to cryptocurencies and detach ourself from this non sense system of taxation and fiat decisions that are totally out of our control.

What prevents the same sort of tight community of crony elites from developing in such a system? It seems to me the course of action should be precisely opposite: greater democratic control, better institutions, more literacy and education so people can make informed decisions and pressure their representatives.

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marcus_holmes 2266 days ago
Cryptocurrencies so far seem to be a plaything of exactly the kind of people that are wrecking the financial markets. I don't see them as being the answer to anything.
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dustingetz 2266 days ago
until first-world governments cannibalize themselves and are outcompeted by something new
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