Quote:
Originally Posted by alexamenos
Exactly what the economy needs is a kind of reset, IMO....I think, and I've hardly the ability to explain it adequately, but I think one of the consequences of the manner in which our monetary / fiscal situation has been managed over the last 15 years is that it leads to all manner of "mal-investments" -- we get people heavily employed in building mcmansions, investments in companies dedicated to providing pet owners with an internet portal to purchase dog food, etc.... it's going to take time to unwind these bad investments and get people employed in more productive endeavors, and I think it will unavoidably be a painful time.
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Yes, it will be painful, but it is undoubtedly necessary. That's one of the reasons that I was opposed to the bailout. The country (and the government) needs to learn to live within its means, not be bailed out.