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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Sunny Jim who wrote (94287)2/16/2009 4:27:50 PM
From: Dan3   of 116555
 
RE: One thing that the graph tells me is that you don't come out of depressions until private debt loads come down.

Yes, and all we need is a mechanism that can be implemented quickly to shift funds to do so.

Retroactive FICA tax holiday.

I would maintain that we don't have a chance of coming out of this depression until private debt loads come down to substantially less than 100% of GDP, and with GDP poised to fall off a cliff, that's a Herculean undertaking. We've got a long way to go and our politicians are trying to get credit flowing again??????

I know - it's unbelievable. These guys think the answer is for people to go deeper into debt. The problem is so obvious and the solution also obvious. Why can't anyone see it?
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