Hi Herb - crashing...
My email is calling and it appears to my pop trying
to figure out how to use Yahoo! So I have to go, and
this might take a few months. Still, I did want respond
to a few points:
<...we should be more concerned about the distruction
of our currency due to inflation...>
Debt, not inflation, our primary problem. From an recent
economic address by Rodney King, "Can't you all just pay
off your credit cards, please?" When my parents can only
barely scrape for survival on an above average income, 40%
of which is consumer debt service, a really huge problem is
looming. And, yes, it's their fault. But I think their case
is not unusual...and there's a problem ahead for middle America
<...Today our banks are, for the most part , regulated and
have to provide reserves to provide liquity...>
Yes, and actually, they are THE most regulated industry in the
country (or at least #2, insurance might be #1). Still, if pushed,
the FDIC is only legally obligated to as little as .10 on the $
And if my money is tied up in the market, this doesn't mean much
anyway.
1. <.... Today we would provide the capital the next week
if needed...>
2. <...as long as we can print money to fund our way out of
bad times I'm sure that the world leaders will take the easy
way out and do just that..>
I'm honestly not being an inflammatory smartass here, but I
honestly don't understand why you are using 1. as a positive
point and 2. as a negative. Please clarify.
-MrB |
