Well . . . Yeah.
I wasn’t the guy that tried to diss X’ers and Millenials.
Sucky part is that what I said was true.
In 2008, there was $64T in CDS/MBS debt to unwind. That number, with all the other debt piled on top, got bigger, not smaller - even with ‘extend and pretend’.
Anyway, banks in Europe are charging negative interest because there’s no where to park the money where investors think it’ll be safe.
Moral of the story - start slinging crap about generations, you better check your driver’s license first. If the last two numbers are less than 64, then it’s best to just keep the comments in the cozy confines of your head.
“I wasn’t the guy that tried to diss X’ers and Millenials.”
He was being unfair but that’s little excuse for you to act in kind. For one thing ‘Boomers are no more all alike than your generation is.
The current politics of big government and big spending got going with Lyndon Johnson and no Boomer was old enough to vote for him. But we were all old enough to vote for Ronald Reagan and plenty of us did.
I don’t see how you think Boomers are responsible for the CDS and MBS debacle. Most of us bought houses years ago when qualifying for a loan meant putting up real money. Somehow I think that the majority of those playing casino in the real estate market beginning around 1998 were a good deal younger.