Let me put this on the table. I believe that that 2008 banking bailout was an not only wrong but also a waste of time. It was a last ditch effort of the then current government to fix the problem caused by company's that were "Too Big To Fail." While banks are important. Its important to realize that banks being "Too big to fail" could have easily be fixed by switching to smaller more local banks. It also started the very disturbing precedent of "If you have a large company and you screw up the government will fix it." The problem of this is that we had already had a precedent for massive economic clapse.
The Great Depression was a terrible situation that didn't end until the second world war. Which ended up leading to the prosperous* two centuries afterwords. However If we look at the Great Depression the biggest modern economic disaster we can see that putting people in the factories to support the war more or less fixed the economy. After the war was over people were still put to work in the factories building civilian goods.
This sort of paradigm change if we go based on the last example should have gone something like this. The Housing bubble forms, The banking sector starts drinking the toxic slurry of bad loans, Everyone is told that they were fine, The bubble bursts, Multiple companies die off in the chaos, And then the government panics and bails out the companies deemed "Too Big To Fail." What should have happened based on what last recessions is that the old systems die and are replaced.
I cant predict exactly what would have replaced the old systems however I do have a theory. Starting next year are going to have another recession as bad if not worse than the 2008 recession. Most of the large financial advisors are calling for it. At this point it seems inevitable. So whats next? Welp we already kinda know. Its gonna be two in one. The old media systems are going to die. This includes Facebook,YouTube,Twitter, and a the missing link media(Vox,Buzz-feed those kind) These will be replaced with newer(Or older sites as tumblr seems to have straight resurrected newgrounds) sites.
These will have some amount of Crypto integration. Minds,Steemit,Bitchute, and well pornhub is supposibly looking into vice so I guess that counts? These sites will also allow you to directly pay the creators you support. Ads arn't going to be gone but they will be significantly less or used in more creative means like the lego movie ad on youtube as a way to promote the lego movie 2.
This new paradigm is going to be alot more like the old internet. The decentralized wild west internet that was around in about 2009. So what do sites need to do to prepare? Steemit needs to get out of open beta. Its hard to tell people that they should join a site with a week long process to join. Bitchute just needs to figure out a way for HD and fix its UI. And internet users need to be prepped for a decentralized net again.
So ya thats my thoughts. Tell me what you think in the comment section,
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I like your money post.
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