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re: Taking a poll: Who thinks and why:
Posted on 5/26/23 at 8:13 am to Thomas98
Posted on 5/26/23 at 8:13 am to Thomas98
Should edit to add age on this. Interesting to see the difference between who had any money last time we saw this and who was still in school.
I say #2. Consumer tapped out. 68% of GDP. Bear Stearns was a crack in the system, but somehow none of the banking issues we have now seem to draw concern. It's amazing.
I say #2. Consumer tapped out. 68% of GDP. Bear Stearns was a crack in the system, but somehow none of the banking issues we have now seem to draw concern. It's amazing.
1
Posted on 5/26/23 at 12:48 pm to UpstairsComputer
quote:That's because it's just an entirely different situation. Banks in 2007 (and financial firms like BS) were stuffed with inordinate amounts of rated, securitized products that were essentially worthless AND lending against housing was completely out of control. Neither of those conditions exist today.
I say #2. Consumer tapped out. 68% of GDP. Bear Stearns was a crack in the system, but somehow none of the banking issues we have now seem to draw concern. It's amazing.
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