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[–] therealkrispy 0 points 1 point 1 point (+1|-0) ago
Crises like this, which are called 'corrections' on Wall Street, are basically side effects of having a rigged economy. What we need is a real, complete, unmitigated collapse to fix it. No buyouts, no closing the banks, no 'new deal,' because the people will only be hurt in the short term. The Ponzi schemes we call financial institutions, the government sanctioned monopolies we call industry incumbents, and the mob-like protection rackets we call regulatory bodies will all be washed away by a selling flood, and I assure you, America will be just fine after a few months.
Either that, or they'll do bailouts, QE and 'tighten regulations.' if we do that again, it'll just mean a higher set 'baseline' for their fake unemployment numbers. Of course, there won't be a housing crisis, because these upcoming two generations are actually getting mortgages earlier than usual.
That being said, we have multiple major economic crises to make up for not really having. The Great Depression was only bad for the people because the government protected the big businesses. They'll have to take a header this time around.