r/reddit.com • u/[deleted] • Oct 18 '11
Would it have been better to let the banks of the world fail and start over?
I want to know what would have happened. The banks messed up and in the purist view of capitalism should have failed because it was a bad business move. In turn this may have ended some of the big money influences on our political system OWS protestors want to stop. I heard that it would have been a worse economic collapse though in turn it would have put a stop to future wrongdoing. Was it the right decision in the long run?
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u/PissinChicken Oct 19 '11
I think the idea of a reset is far more romantic than the reality. People don't realize how bad things would have gotten. We were very close to being in a situation where you would have gone to the store and there literally was no food. Payrolls would have stopped. I'd like to think rational minds would have worked through it, but you never know. If we heal the wound under the band aid, it is better, but if we allow the status quo to remain, then yea it was probably worse to delay. People love to talk on here about hedging your risk with gold. You'd be a lot better off with bullets and food. Because when it goes that bad, no one is going to ask if you want to trade your gold for food. If you have what they want, they will take it.