Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ilaine who wrote (4519)	6/8/2001 1:40:29 PM
From: pater tenebrarum	Read Replies (1) of 74559

well, let's not forget that i'm not an 'after the fact' critic. imo the huge debt shouldn't have been accumulated at all. the way the system is constructed, the eventual debt deflation is anyway inevitable. the only question is how big will the debt mountain be that we'll be buried under. and the current one is the biggest EVER, not just in absolute, but also in relative terms (relative to income, GDP, equity...it doesn't matter which yardstick you use - it's unprecedented). the Japanese made the same mistake: they allowed a credit and asset bubble to form, and now they're paying for it. same will happen here, only it has the potential to get a whole lot worse, as there are no savings.

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