This essay started out as the role of social media in the 2016 election — and I have a solution for that. But the essay mostly talked about the conditions leading to the 2008 recession. So I’m a little confused. Maybe this is part of a series.

Canadian banks were regulated and thus could not issue silly mortgages. Hence their exposure to bad loans was not high. No Canadian banks failed; no taxpayer dollars went into propping up a Canadian bank. In fact, a couple of Canadian banks went south of the border where there was a little banking vacuum.

USA hasn’t learned from teh Canadian example. Banks remain unregulated — so we should expect another self-induced recession.

Dave Volek is the inventor of “Tiered Democratic Governance”. Let’s get rid of all political parties! Visit http://www.tiereddemocraticgovernance.org/tdg.php

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store