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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Perspective who wrote (106866)6/6/2001 1:03:36 PM
From: pater tenebrarum   of 436258
 
i would agree that the policy response to the bursting of the bubble is in the main just going to draw things out. it's basically throwing good money after bad...and it ultimately makes the situation worse, since as a side effect it leads to a further blowing up of the credit bubble. so the mismatch between the accumulated private sector debt and the economy's ability to service that debt becomes ever larger.

this is a box Greenboink won't be able to print us out of, so i think you're betting right. regarding your bet, only the question of timing is of importance...it's iow a question of when, not of if. i think by next year the failure of the bureaucrats to stem the rot will have become very obvious.
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