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2010-03-04 17:36:53
16 of 17
#3950
in reply to #3947
Ian, if you trace the causality backwards and forwards, you find that US banks used ever more parasitic fee structures that discouraged prudent savings. There has been no incentive to save since Reagan's economic redistributionism.

In the absense of real savings, credit restrictions were lowered along with interest rates in order to sustain the appearance of economic growth.

We are here because the plutocrats decided that the Middle Class didn't need all that money, and discouraged prudent personal economics.

-drh
Posted by: -unknown
2010-03-04 19:36:42
17 of 17
#3951
in reply to #3950
salvarsan wrote

We are here because the plutocrats decided that the Middle Class didn't need all that money, and discouraged prudent personal economics.


Exactly.

Suppose anything will change?
Posted by: Ian
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