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Originally Posted by Sexxxy Sites
I like you do not see the logic to it. Loaning/borrowing money caused the housing problems. Loaning/borrowing money caused the banking problems. So how can anyone think that the government loaning/borrowing/printing money to provide these institutions the ability to resume the very thing that created the problems in the first place can solve the problem other than on a very short term basis.
I repeat that I cannot see anyway that a credit/service based economy can survive long term. When one does not produce Widgets and/or the Widget factory is operated on ever expanding credit it seems to me that collapse is inevitable.
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there are two ways to look at this. a bank does not cause a loan. a person borrows money. a bank does not cause a person to pay for a Big Mac with a credit card... a person does. a bank does not cause a person to buy at house with payments being 40-50% of their income - a person makes that choice.
business credit is not "all forms of credit" and is not the core of the issue we face today. the problem we face today is the result of a complete and total failure at every level of society to not act like fucking idiots.
the problems are not there just because "a business", "a banker" or a "some other thing" is the problem. the problem is also cultural and societal.
and you are repeating the same thing i have said.... dependence on credit leads to greater dependence on credit until the whole thing collapses. your refusal to borrow money to aggressively expand is all fine and well.. but it will ultimately mean your own destruction as a company when competitors are borrowing aggressively (even irresponsibly)
this is why i have always said that the whole system needs to collapse and reset.. instead, we are rewarding failure and horrible/irresponsible judgment at the expense of those who act responsibly. that's just as backwards as the issues and the behaviors that brought us to this place to begin with.
Hillary Clinton had to fly to China last week to beg the Chinese to buy more U.S. debt. That in itself should tell you something. The financial markets tank every time Obama or someone in his administration talks about whats coming, future plans, solutions etc. That should also tell you something.
