What would have happened if there was no government bailout in 2008?

[Pub-911]

If the founders had had a better opinion of the thoughts and wishes of the masses, we might have ended up with more direct democracy. Fortunately, the founders were highly fearful of the ignorance of the masses and the ease with which they might be fooled and misled by the influences of demagogues. Hence, we have representative democracy instead, where the wishes and opinions of the masses are far removed from the actual levers of government and have as little impact as possible.

[slapshotbob99]

Originally Posted by 69Charger

A lot of mathematicians and economists say, that because there was less debt in the system, that if we would have just dealt with it then the pain would have been less severe then it will be for the next crisis.

Now we have tremendous debt, and no bullets in the Fed gun.

But that's what happens when you try to create a society that doesn't feel pain, instead of teaching them grit and toughness.

This is perhaps the best summary of what may happen one day and why. Whether speaking about mortgages, social security, or medical care, etc. We MUST pay the piper someday. The only way out of it will be if we have some massive tech or economic boom again that allows us to pay off the already accrued debt. I pray to God that if such a boom happens the politicians in charge at the time will be wise enough to pay off the debts instead of expanding more programs.....

[Hoonose]

Originally Posted by slapshotbob99

This is perhaps the best summary of what may happen one day and why. Whether speaking about mortgages, social security, or medical care, etc. We MUST pay the piper someday. The only way out of it will be if we have some massive tech or economic boom again that allows us to pay off the already accrued debt. I pray to God that if such a boom happens the politicians in charge at the time will be wise enough to pay off the debts instead of expanding more programs.....

My personal and business loans are paid off. National debt certainly can be paid down, but never paid off. It is unlike a personal or business loan. In 10 and again in 100 years I will bet all I own and love that our national debt will be larger than today.