Unless the Federal Reserve intends to buy up every dead and dying mall in America, this is one crisis that the Fed can't bail out with a few digital keystrokes.
Just as generals prepare to fight the last war, central banks prepare to battle the last financial crisis--which in the present context means a big-bank liquidity meltdown like the one that nearly toppled thr global financial system in 2008-09.
Planning to win the next war by assuming it will be a copy of the last confict is an excellent strategy for losing the next war. The same holds true for the next financial crisis: reckoning that it will be a repeat of 2008 is an excellent way to be caught completely off-guard.
Crises may rhyme, but they don't repeat. The next Global Financial Meltdown won't start in subprime mortgages--that sector has been wiped out, written down, or passed on to the poor tax-donkey taxpayers.
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The government has plans to use abandoned malls as detention and internment centers.
ReplyDeleteWAKE up Obama has left and Hillary LOST.
DeleteGood
DeleteWe are still living with Obama's policies now and things are falling apart I guess democrats will run on this.
ReplyDeleteLook at all the empty retail (in salisbury)spaces now and they are building more?? The mall sucks now and these strip malls are popping up everywhere with mattress stores in them.
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