Uh-Oh, How Bad Is This Going to Get?

[Lemur]

That is called Keynesian economics, not Reaganomics.

I'm missing something. All Husar mentioned was "spending , tax cuts and credit" as part of the global financial meltdown. With a description that vague, he could be talking about almost anything short of a command economy. Could be Reagan-style supply-side or Keynesian demand-side or something else completely.

[Husar]

I'll presume the meaning was lost in translation.

There was no pinpoint-accurate logic. There was only an unsubstantiated and inaccurate allegation with poor follow-up. The root of this financial crisis lay in the 1990's with both parties to blame. Congress wanted to encourage people to seek the "American dream" of owning a home. Evidently congress thought it best to decide what that actually means. This encouraged a cycle of high risk borrowing which ultimately ended in collapse.

So the managers wanting to give everybody a credit to get more bonuses had nothing to do with it at all?

I'm missing something. All Husar mentioned was "spending , tax cuts and credit" as part of the global financial meltdown.

That's nice but he responded to a quote from Tribes if I'm not mistaken.