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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (148542)	2/7/2015 3:58:07 PM
From: tejek	Respond to of 149319

tejek, my question is that if capitalism is not the problem, then why did we have the economic mess in 2008. Good question. Capitalism is noted for its huge economic busts. Furthermore, is the economic situation today the same or the worse than 2008. If the answer here is no, then I wonder what changed between 2008 and now. Some changes that come to my mind that occurred are QE, ZIRP, new US President etc. Busts like we had in 2008 used to happen regularly during the 19th century. Many of the innovations and institutions created since the 19th century like the central bank were established to reduce the impact of those busts. Nonetheless, MM and his cohort would have us go back to those wild west days because they were 'purer'.