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Originally Posted by wig
Mkay. I did and they were. Not sure what the point is.
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Point is, they forced it to happen, without letting it unfreeze itself, which it would have done.
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Originally Posted by wig
Again, not sure what this means. It is a brute fact that non-bank entities who were not even directly exposed to derivatives quickly found that they could not meet their obligations.
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It was pretty simple to understand..... someone would have given them the cash, a few days without wouldn't kill anyone. It's not like the entire world froze up.
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Originally Posted by wig
Well, the world is in trouble then isn't it? How far should we go back in time to view a sample economy without credit so we know what model of economics you think we'd be better off with?
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Not the entire world... we can see samples of 'better off' in our own houses that don't live on credit.
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Originally Posted by wig
Do you see anyone arguing for less banks? I don't. It's not relevant to the discussion. But, as an aside, consider Canada.
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Nobody has to, less banks is a bad thing either way. Canada has shit ton of banks, 3 levels of them, multiple types, etc.
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Originally Posted by wig
Huh? There was production, revenue generation, blah blah in the early 20th century. WTF are you talking about?
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Production was nothing like today, revenue was nothing like today, hell the ability to move goods was nothing like today, no part of a 100 years ago is like today.
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Originally Posted by wig
One reason it could be worse today is because total debt levels are much higher. Deflations are the same no matter when they happen. Just go study the deflationary collapses in history. And this is not opinion either, we were demonstrably entering a deflationary spiral.
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I've read other wise... as well, I've read that no spiral or signal of any kind was taking place before hand, then the code simply erased part of the market, our markets crashed, and the fraud was exposed to us.
I already know the crash had happened, markets frozen, and yet our country did blow up and business was still moving, perfectly fine.
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Originally Posted by wig
Your anecdotes and the rest of your speech is fine, but try and separate the value judgements and principles from the economics.
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Well, you asked "I still have not heard a reasonable explanation for why collapse would have been better."
And that's what the answer was that I gave you, a very reasonable, logical, even works on kids, answer to why it would be better to let it collapse.