((thanks JIM:>))
I think we're going to fall a lot further (say, pulling numbers out of my hat, something like: DOW at 4500, S&P at 500, unemployment at 17%.) Whether it's technically a global depression or not doesn't matter a whole lot. The question is, how long will we be down before we can recover. Forcing the bad debt out into the open (and prosecuting the fraud) will speed recovery by providing the assuredness of transparency (and fairness) that the financial markets need. This is our fastest path towards recovery. It can't stop the meltdown, but nothing can at this point. Leaving these jokers in charge, transferring trillions in tax payer money to cover up the bad debt (and not prosecuting the Cassanos of the world) is just delaying recovery while at the same time wasting the money that might be used to recover.
((i hope your not good at predictions:>))
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I think we're going to fall a lot further (say, pulling numbers out of my hat, something like: DOW at 4500, S&P at 500, unemployment at 17%.) Whether it's technically a global depression or not doesn't matter a whole lot. The question is, how long will we be down before we can recover. Forcing the bad debt out into the open (and prosecuting the fraud) will speed recovery by providing the assuredness of transparency (and fairness) that the financial markets need. This is our fastest path towards recovery. It can't stop the meltdown, but nothing can at this point. Leaving these jokers in charge, transferring trillions in tax payer money to cover up the bad debt (and not prosecuting the Cassanos of the world) is just delaying recovery while at the same time wasting the money that might be used to recover.
((i hope your not good at predictions:>))
- Skinny 4-13-2009 10:36 am