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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (41889)3/9/2010 6:40:09 PM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
Re: [But it RESULTS in that effect.] "Only if the decision is made to socialize the losses."

Obviously!

But... if that DECISION only comes to decision makers very LATE IN THE DAY, as the massive financial crash is all around us... and the policy choice at that point-in-time results in either a MASSIVE RECESSION (already baked into the cake at that late stage *regardless* of what choices are made) or a MASSIVE and much longer-lasting DEPRESSION....

Then how the heck do you expect decision makers to respond?

Rationally (for the lesser harm, even if only for the short-term) or for the much greater and CRIPPLING DAMAGE?

That is WHY it is IMPERATIVE that we learn from the mistakes and enact reforms so these ever-larger financial crashes are avoided, instead of periodically being revisited upon us.
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