Reasons the banking crisis isn’t a repeat of 2008

Re:Reasons the banking crisis isn’t a repeat of 2008 by emptysongglass on Saturday March 25, 2023 @06:23AM (#35301249)

Every time I see the fed adjusting these levers of debasing a money they print I shake my head and wonder why no one questions these levers as leading to a healthy economic society. Now my money is worth this much less tomorrow so now I must work this much extra for a raise to cover the loss. Doesn't this strike anything as an absurdist parody play starring us its marionettes?

If crypto isn't the answer, what is? I think inflation and deflation are awful levers of monetary policy and should not be wielded by government institutions like the fed. They've proven themselves time and again bad stewards.

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Re:Reasons the banking crisis isn’t a repeat of 2008 by kevviiinn on Saturday March 25, 2023 @06:33AM (#35301294)

What I wonder is why a bunch of programmers seem to think they know economics and finance better than the fed

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Re:Reasons the banking crisis isn’t a repeat of 2008 by Yiin on Saturday March 25, 2023 @06:41AM (#35301332)

It's like asking why nurses think they know more about hospital processes when management is making bad decisions that doesn't solve real problems. I wish you are right though.

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Re:Reasons the banking crisis isn’t a repeat of 2008 by kevviiinn on Saturday March 25, 2023 @06:46AM (#35301362)

Unless all of those programmers work for financial institutions I don't see how that analogy follows

It's more like asking why patients think they know more about hospital processes when management is making (perceived) bad decisions that don't solve real problems

We are users of the service, not people who work within the financial system

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Re:Reasons the banking crisis isn’t a repeat of 2008 by emptysongglass on Saturday March 25, 2023 @06:41AM (#35301333)

I am legitimately curious in any alternative that is not business as usual. Doesn't have to be crypto! Just name it.

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Re:Reasons the banking crisis isn’t a repeat of 2008 by kevviiinn on Saturday March 25, 2023 @09:33AM (#35302466)

See I don't work in finance, and I'm not afraid to say that I actually don't know what is best. I think other people could take that avenue as well

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Re:Reasons the banking crisis isn’t a repeat of 2008 by TheOtherHobbes on Saturday March 25, 2023 @06:38AM (#35301316)

Because if the fed wrote software it wouldn't stay in business for long.

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Re:Reasons the banking crisis isn’t a repeat of 2008 by kevviiinn on Saturday March 25, 2023 @07:08AM (#35301478)

I wonder how long a financial system would stay running if the programmers took over, probably about the same

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Re:Reasons the banking crisis isn’t a repeat of 2008 by k2enemy on Saturday March 25, 2023 @08:42AM (#35302096)

We don't have to wonder. DAO, FTX, Genesis, Three Arrows, BlockFi, Celsius, etc.

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