Originally posted by BlasterBates
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stock market crash
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When the stock market crashed in 1929, basically companies went to the wall, and then after several years of a grinding depression a new President was elected who spent billions to get out of it. So the lesson is if you end up in a depression you're going to have a spend a lot of money at some point, you may as well do it up front and prevent the depression in the first place.I'm alright JackComment
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Originally posted by BlasterBates View PostWhen the stock market crashed in 1929, basically companies went to the wall, and then after several years of a grinding depression a new President was elected who spent billions to get out of it. So the lesson is if you end up in a depression you're going to have a spend a lot of money at some point, you may as well do it up front and prevent the depression in the first place.Comment
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Originally posted by BlasterBates View PostThe alternative is to throw 30% of the population out of work and give them nothing. Would you be happier with a lower tax rate and no job ?
Also really good alternative is not to have moronic system that allows somebody like Trump to be in chargeComment
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Originally posted by AtW View PostThe alternative is not to save a few billions on prep for inevitable events like pandemic.
Also really good alternative is not to have moronic system that allows somebody like Trump to be in charge
That is why everyone is now copying them. Sometimes spending money can save money.
If an airline turns its planes into saucepans to pay off the creditors then it will take years to get back its capacity.I'm alright JackComment
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Originally posted by DimPrawn View PostI think bankruptcy rules and laws have changed a lot since then.I'm alright JackComment
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Originally posted by AtW View PostI prefer to judge you on whether you keep your word - which you did not and even pretend as if it never happaned
Ah you can't find it... strange that. Almost like it was made up."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by BlasterBates View PostThe alternative is to throw 30% of the population out of work and give them nothing.
Would you be happier with a lower tax rate and no job ?
The alternative is far far better than keeping failed businesses on life support. The FED is not an economy.
One word: Iceland.
They took the medicine back in 08 and are now far better for it."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostThe alternative is far far better than keeping failed businesses on life support. The FED is not an economy.
One word: Iceland.
They took the medicine back in 08 and are now far better for it.I'm alright JackComment
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Originally posted by BlasterBates View PostThe German government was the only one to introduce a furlough scheme during the last recession, which is what everyone is criticising and their debt went down faster than everyone else. That's because companies could hold onto their workforce and companies could quickly ramp up production once the economy started to recover.
That is why everyone is now copying them. Sometimes spending money can save money.
If an airline turns its planes into saucepans to pay off the creditors then it will take years to get back its capacity.
Once it became clear lockdown is needed the only correct strategy was to go all in for it - very strict, that would have saved months (tens of billions in furlough) and countless lives - and now moronic Govt here is trying to reopen too soon, we are fecked with these moronsLast edited by AtW; 10 June 2020, 13:57.Comment
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