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> (in fact it made us money) And caused a global recession along the way. The loan repayment interest didn't (and couldn't possibly) cover even a fraction of t
by MonkeyClub 7mo ago
> (in fact it made us money)
And caused a global recession along the way. The loan repayment interest didn't (and couldn't possibly) cover even a fraction of the backlash, which includes lives destroyed world-wide.
Externalities?
- pjc50 7mo agoNeed to be clearer about "it" here: the crash caused the recession, not the bailout. The recession was inevitable because some of the growth was illusory, based on leveraged gains from house prices.
- duxup 7mo ago>And caused a global recession along the way. They're talking about the bailout. I think the bailout came after the cause of the recession.