Quote from: Ultrafinery on May 14, 2016, 04:23:45 PM

Quote from: practicaldreamer on May 14, 2016, 04:12:50 PM

... and the whole debt based system would come crashing down around us.
This is what should have occurred in 2008, were there a free market.

Thank God for central banks/no free market?

Ding. In most countries, the system worked. The fatcats got immediate handouts to prevent systemic collapse, which pissed a bunch of people off since the fatcats were mostly responsible for the crisis in the first place. But in almost all nations, including the US, the handouts stopped and the fatcats have mostly been required to repay them as loans. And in about half of all nations, (the less corrupt nations), prosecutions are following on now that the economy is somewhat stable again. So -- in most of the world -- the system worked.

I worry though, that one of the nations where the handouts have never ceased and never been paid back, and prosecutions did not follow recovery, is China. I fear that it's heading for a big collapse, and it is among the biggest economic powers in the world. If they don't smarten up pretty quick, they could bring the whole system crashing down again.