[Owen]

I stay away from predictions. QE was necessary. Capitalism failed. Bernanke kept the trains running on time.

But it’s delusion, and willful delusion by everyone who ever earned any money or has any money.

We sneer at how the Soviets and communism failed. They had Gosbank, which was not empowered to do monetary policy. They just created money to accommodate their 5 year plan.

Well, if they had done QE, they would not have “failed”. Well, they would have, but the trains would have still run on time. Just like with the Fed. No one can possibly accept that capitalism is a failure. But it is. It failed. The Fed gave it money.

[House Atreides]

LOL — To the extent that ANY portion of “capitalism” failed, it failed because Statists in the Federal government DICTATED that financial institutions must make massive loans to people who weren’t even capable of managing their affairs well enough to pay their monthly telephone bills.