Quote:
Originally Posted by cashman
who cares its the moneymen that got us in this mess, regulate n make them sort the mess out, yer damned if ya do, damned if ya dont in government during a recession.
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Exactly ... regulation ... now you are thinking like a Canadian ...
Over here, the banks and financial institutions are rock solid ...
And I think that you are right about the fact that govts. are facing an economic dilemma .... thing is, this recession will end sooner or later, probably in spite of what govt. does. What people should be thinking is "what then"? What can be done to make sure it doesn't happen again? The govts. didn't get us into this mess ... tho' they didn't do much to prevent it ... big business did it out of greed, acting in a vacuum created by conservative govts. (Ronnie Raygun is much to blame for this ... and Thatcher of course) who let them go to it. Well paid industrial jobs were exported to countries with a labour force that was prepared to work for low wages in atrocious conditions ... this in the name of Globalization. This left workers at home without well-paid jobs. The problem that arises is that now they are not able to consume at the same level. This put pressure on the national economies ... and what came along to replace well paid jobs? Easy credit. A house of cards ... smoke and mirrors. This recession was inevitable.