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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (66378)7/20/2006 1:38:27 AM
From: shades  Read Replies (1) of 110194
 
The reason they would not do so is because it would bail out consumers at the expense of banks. Does anyone really believe the Fed would bail out consumers at their own expense? I don’t.

Mish when they did this in germany - didn't it bail out local customers (debtors) at the expense of local banks? Those 8000 german marks in a loan that previously would have taken you a year of work to repay only maybe took a day of paid work to repay. So why did they do that? Oh external DEBT you say - the very thing mosler and chromatic said are BAD and that we shouldn't have allowed because it causes the fed to lose so much power over monetary control to foreign creditors. That we should have kept the debt inside - globlization of debt is gonna cause hurt feelings in the future eh? Bernanke is beholden ultimately to congress eh? Ultimately they are beholden to pissed off voters. Pissed off voters care how much about debts that china man holds? Looking at zimbabwe - why do they do it?

Buffet said we were ok when we were a creditor nation - in that instance bankers would probably do what you speculate - when you become a debtor nation - the rules change eh?

I have been involved in real estate awhile - buying a chalet in france and turning over property management to a local who moves his sister in never seemed smart to me - towers of babel get built - then they get crushed - globalized debt can't be enforced eh?

My cousin on the city council always gonna take care of me and my property rights over you half a world away eh?
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