The headline reads, "Toxic Loans Around the World Weigh on Global Growth".
So, easy enough - let's declare war on toxic loans.
I mean after all we've declared war on drugs and war on terrorism.
Lets have a war on toxic loans.
I can see it now - calling in an air strike on reams of loan papers. Mounting a ground assault against high risk debt. Better yet - build a huge wall around less toxic debt and have China pay for its construction.
Except you cant declare war on a brick of cocaine. You cant declare war on "terrorism" - it's a strategy to instill terror. Its not cocaine, its not terrorism - it's PEOPLE, people are the problem.
And it's not toxic loans - it's the corrupt people who sell these loans in order to make money - there's the problem. Ah if only the headlines read Toxic Loan Lenders Around the World.....
We were supposed to have learned this lesson from our last great recession, except that the crooks who caused the mortgage, derivative fiasco were never prosecuted. They and all the others in our thoroughly corrupt, unstable world economy are still free to continue extending high risk credit, free to continue to rack up bad debt, in order to enrich themselves - world economy be damned - and we are still paying the price.
So, easy enough - let's declare war on toxic loans.
I mean after all we've declared war on drugs and war on terrorism.
Lets have a war on toxic loans.
I can see it now - calling in an air strike on reams of loan papers. Mounting a ground assault against high risk debt. Better yet - build a huge wall around less toxic debt and have China pay for its construction.
Except you cant declare war on a brick of cocaine. You cant declare war on "terrorism" - it's a strategy to instill terror. Its not cocaine, its not terrorism - it's PEOPLE, people are the problem.
And it's not toxic loans - it's the corrupt people who sell these loans in order to make money - there's the problem. Ah if only the headlines read Toxic Loan Lenders Around the World.....
We were supposed to have learned this lesson from our last great recession, except that the crooks who caused the mortgage, derivative fiasco were never prosecuted. They and all the others in our thoroughly corrupt, unstable world economy are still free to continue extending high risk credit, free to continue to rack up bad debt, in order to enrich themselves - world economy be damned - and we are still paying the price.
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