Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Jim Willie CB who wrote (27548)	2/6/2002 11:14:24 AM
From: Baldur Fjvlnisson	Read Replies (1) of 99280

Nothing is too big to fail. The most serious misconception is that recessions/depressions are "bad". This is one of the main reasons the global financial system has been reeling from one crisis after the other for the past two-three decades or so. It's just about liquidation of debt plus what makes the present situation so severe a massive liquidation of fraud and criminality. The depression is simply necessary just as the medicine you give to your dog to rid it of parasites is necessary. It's the economy's way of ridding itself of excesses. Loose monetary policy and carefree credit and total lack of any regulation in financial markets lead to crashes sooner or later. Greenspan is trying to reinvent the economic cycle but he could just as well try to order the sun to stop setting.

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