very succinctly stated. If your parents were born before the Great Depression, and you heard "why don't you get a job?" as a child when you asked them for a new toy....... or "Ya got any money? No? then you better learn to do without!" then you probably did not over leverage during the boom.noddy wrote:i dont buy this angle at all, its coming from the final solution mindset and isnt taking into account chaotic humans chasing moar moar moar.
the real world outcome of this 'toxic product' horseshit analysis was 20 years of record low interest rates and easy to get credit that made for a massive boom for the entire planet.
everyone genuflecting loved it, everyone voted for it, left, right, centre and reverseflipped wankeroonie.. they only cared when the party stopped and the debt required paying back.
the old farts mumbling about not taking on too much debt less you find yourself over leveraged were laughed at and called idiots that didnt understand the new reality
the smart kids all said that money not leveraged was money being wasted.
the very governments you want to legislate against this DEMANDED it to maintain the social services they promised, you sound like endo blaming the germans.
But if you were a special snowflake, middle class, child of privilege.... you mighta went whole hog for status items. It seems, every generation needs to burn themselves on the stove before they understand the concept of hot. Seems to be wired into our hardware.