On: McKinsey: Half the World’s Banks Too Weak to Survi...

[QuesnayJr]

We've had recessions for the entire history of capitalism, under a large number of legal regimes. We had recessions back when banking was much more tightly regulated. We had recessions under laissez-faire. Recessions are endemic to the system. Our choices are either "combat unemployment" or get ready for socialism to finally win the war of ideas.

[dmix → QuesnayJr]

> or get ready for socialism to finally win the war of ideas.

Yeah how's that working out in Venezuela and Ecuador (who only half-heartedly did it and still got burned).

[QuesnayJr → dmix]

It's working out badly. But we get 25% unemployment, and a lot more countries are going to try it.