Study: The Great Recession Cost $14 Trillion

Study: The Great Recession Cost $14 Trillion

here’s a good question how much money
did a great recession cost a new study is out from the Dallas Fed that says a conservative estimate is one year’s worth above us. economic
output so the total cost of the Great Recession
is one year’s worth love US economic output in other words
they cost 14 trillion dollars that number hurts just saying it now a just to put that in perspective when all is said and done with the war
in Iraq by the year 2050 3 after all the money we borrowed in the interest payments on and things like that it will
cost 7 trillion dollars this is the whole the war in Iraq of what a monumental
mistake this was now they say the number is based on how
much output was lost during the crisis and
Great Recession all along with all the damage done to
potential future economic growth and there’s a great live from the
article on this they say quote this is a fact worth keeping in mind the next time
bank lobbyists and flax warned as they have actually do their
new rules and regulations could slow the US economy will rules to safeguard the economy
vaporize $14 trillion in GDP no then they’re probably worth doing couldn’t agree more now keep in mind also other studies on this
same topic have determine the cost to be one said thirteen trillion another $17 trillion and a third 20 tune trillion I don’t really care which
number is correct because all them are so incredibly devastating
and by the way how do you avoid the next
economic downturn it’s actually pretty simple you bring
back intelligent regulations so you limit the
amount that banks can leverage which means that you say hey you can have a ridiculous
ratio like betting a hundred dollars for every
one dollar you actually have in cash reserves that’s ridiculous that’s setting
yourself up for failure right you also bring back glass steagle which Elizabeth
Warren John McCain try to do unfortunately it has no chance of
passing which is ridiculous when you really
think about it cuz that’s one of the main things I could’ve avoided this
whole mess in the first place but our congressmen are still like yeah
no still want to do it sorry so stupid but while questing old
is it made sure that when you put your money in your local bank wherever you go that
money cannot be used for ridiculous casino capitalist bess that
are incredibly risky in 1999 under clinton one glass steagle
was repeater repealed all the Sun investment banking
commercial banks merged and your money which was supposed to be safe
was being but in absurd ways of course they should also ban predatory
lending practices like adjustable-rate mortgages which helped lead to the recession in
the first place so the way we work is I want these
financial institutions yeah somebody would say hey boss look I
did a great job I sold this adjustable rate mortgage we’re gonna make roughly on average
about 14 percent honest that but what they don’t realize is here the people are gonna be able to pay it back
their rate is 2 percent now but in two years a fist 20 percent they’re gonna go belly-up so they made
short term profit but it was at the long-term X expense well the economy the economy isn’t
viable long-term because it’s a house a car general blows up and the welcome back to rates so most
people who push those would get promoted because they look what I did good on
paper but america’s it all blow up anyway it
was a real well and look the sad thing is that even if
you do all the right things you still can guarantee avoiding another downturns gonna happen
at some point because we have so many other huge issues as well I mean a student loan debt recently
surpassed $2 trillion dollars it surpassed credit card debt I mean
it’s ridiculous to think about the war on the middle class I can send
it into another recession because so many people have lost purchasing
power in the US in the economy can grow into a hole also the recovery has been fake largely
we just three inflated the bubble not to mention the derivatives market
$600 trillion dollars over $600 trillion dollars again bound
for failure bottom line it’s time we started
substantively addressing these issues

7 thoughts on “Study: The Great Recession Cost $14 Trillion

  1. No they knew, they wanted to suck in capital and increase assets. It happened just like they wanted.

    They taught that they were paying their serfs to much so they wanted to move security of shelter. This psychopaths have been marked and they know it.

    Fuck the fiat, bitcoin this bitch.

  2. Why do we have banks? Credit Unions have the same services as banks with out the crazy risks of banks.

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