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this post was submitted on 24 Jun 2023
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When things are going well, so many feel like the person avoiding or mitigating risk is silly and dramatic, and the person running headfirst into that risk is brave and rational. Then, when something awful like this happens, it’s always, “No one could have predicted this tragedy!” and they learn nothing.
This was the whole cause of the 2008 financial crash.
And the 1980 crash, which lead to many banking regulations, which were removed shortly before the 2008 crash for stifling the economy. Stifling and stabilizing look very similar until you get to the negative parts.
It is just the process of externalizing costs in internalizing profit. Get rid of regulations, take risks, make a lot of money, when the shit hits the fan say who could have known and get someone else to pay for it.
I've been the lame guy at so many drunken bon fires...it sucks but I swear I've saved a lot of folks from themselves, others were beyond my help.