Re:Why Are Corporations Hoarding Trillions?
by jonnathanson on Thursday January 21, 2016 @07:49PM
(#10949890)
But obviously the '90s were not sustainable. What we are going through today is the payback period (with interest) for Greenspan's economic policies.
Re:Why Are Corporations Hoarding Trillions?
by 13thLetter on Thursday January 21, 2016 @08:11PM
(#10950009)
"But obviously the '90s were not sustainable."
Sorry, it's not obvious to me at least. Can you explain why they weren't sustainable?
Re:Why Are Corporations Hoarding Trillions?
by brownegg on Thursday January 21, 2016 @10:43PM
(#10950611)
You are certainly right that it was fun.
But basically the hypergrowth of the '90s was borrowed from the future. All policy was good if GDP grew. Greenspan noodled on the problem--"irrational exuberance"--but unfortunately became convinced the existing pyramid scheme was working. He's since publicly expressed regret over a ton of those decisions.
It was a pretty fabulous kind of life. People felt rich, there were shiny new buildings going up everywhere, the government's budget was running at a surplus, there was a general feeling of optimism and hope for the future. Given the choice, I'll pick that over trying to come up with reasons why our current situation of general political and economic misery is somehow morally better.