Posted by LongIslandKnicksFan:
With how the country doesn't seem to ever care for it's citizens (the 2009 Bailout being one of those prime examples of how they'd rather bail out their criminal friends on Wall Street rather than the American people) this doesn't seem so far fetched... That, and the Federal Reserve keeps on printing money out of thin air which causes inflation and will cause the economy to collapse at some point - that's why I was curious.
This strikes me as a pretty thinly veiled attempt to have a political discussion on a Knicks board. As has been said, a full economic collapse would pretty much push all NBA matters to the back-burner, and we already know how the slowdown had an effect on the projected cap numbers for 2010 and our pursuit of LBJ. So imagine something like that happening, only a lot worse.
As for your prediction; the bailout for the “criminal fiends” in Wall Street is the reason we didn’t see a far more serious slow-down in the economy, and all indicators are pointing toward a recovery, according to the Fed. Even if it will be several years before much of a recovery is felt by most Americans. The bailout was unfortunate and necessary, and the job now is to come up with a program of regulations that ensures Wall Street cannot continue the risky practices that got us into this mess. And while inflation remains a concern, it would have to great really freaking bad before it alone would be the cause of a full melt-down.
Tangentially, I have to point out...for some Americans it’s OK to “print money” to send our troops out to die in an unnecessary war that we are now desperate to pull out of and is sapping the strength of our military and sapping our reserves to the tune of $12 billion/month. It’s also OK to spend millions on an unproven and unnecessary missle system in Eastern Europe rather than invest in a smaller one that would actually protect our allies from Iran. But we try to spend to create jobs here at home and try to get healthcare for the 70 million Americans who are uninsured and underinsured, and suddenly they are worried about the deficit and its effect on the NBA.
This isn’t about the economy, it’s about your values and priorities. There are some in this country that seriously need to rethink them.
Its like a groupie website, or bitter ex-wives club. -Sebstar