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posted ago by defiant_liberty ago by defiant_liberty +19 / -0

The thing is, the left just didn't magically happen one day, they happened because we are financing them. The watered down money the Fed pumps into the system, at below market interest rates, finances the survival of leftist lunatics no matter how stupid they are. It's not a coincidence that as interest rates are at record lows, unproductive debt and craziness are at record highs. It's not a coincidence that as the Fed rushes to the rescue to stabilize every market, that things are more unstable than ever politically. The market is not being allowed to purge unproductive activity, which eliminates systemic financial risk, but explodes social and political risk.

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defiant_liberty [S] 2 points ago +2 / -0

Oh yeah, everybody being obsessed about credit scores all the time, is not a normal part of a free society. In a normal society, you save for things that are consumption, and use credit for things that are production. But today 90% of the credit out there is not for factories and such, but for things that do not produce wealth. All the credit flowing into everything creates bubble after bubble after bubble. We had the dot-com bubble in 2001, the housing in 2008, and now it seems like almost everything is a bubble. No normal society can survive this way.