Bailey

Obviously they weren't printing money, obviously, but what they were doing is they were lowering the standards by which people got money.

They made it easier to get money, which was the last barrier to wasteful spend.

Then you get into asset backed securities.

So you buy the debt.

So these companies buy the debt.

Do you lend a house to somebody?

knowing full damn well they can't pay it you take the debt you sell it so when i say you i'm talking about a bank you sell the debt to these asset backed security holding companies the holding companies are being enriched by the debt because there's interest in everything else well what happens then if that goes south and that person you know forecloses on the home they fall behind because we knew they couldn't pay it right

When a house is foreclosed, ultimately you're not getting money for the house, number one.

Number two, the house's value goes down.

Three, the area value is impacted.

There's like a domino effect that goes on.

All of that triggered by ease of access to money because ease of access to money causes people to spend it.

When people spend it, it actually stimulates the economy, which is what they were trying to do during the housing crisis was stimulate the economy and get more people buying.

So they lessened all the guardrails.

They have the right idea, but the wrong execution.

When you ease access to money too much and you get too much out there,

Then there's demand and then they start printing.

They print and print and print and print to put more money out there to encourage more of the spin.

It's the wrong, it's the wrong solution, but that's what they do.

This is very comparable in the idea that.