jfred, the dreaded D word reared its ugly head: Message 22780625 <<I am still fearful of deflation, as in triple-waterfall depreciation of asset prices, but I believe Ben BurnBurpAndKaput when he explained why deflation will not happen. It is not that I believe deflation will not happen. It is only that I believe Ben BurnBurpAndKaput meant what he promised, about the printing press and the helicopters.> >
Don't worry TobagoJack [visitor from Message 22780629 ], Big Ben will do as Helicopter Ben said he would. Don't ask for whom Big Ben tolls, he tolls for thee and the toll gates are voracious. We have been waiting here and elsewhere in SI since the late 1990s, for the cascading deflationary implosion, which I have always thought would be avoided by helicopter strategy, performed by Uncle Al KBE, even when the obviously going to happen Biotelecosmictechdot.com crunch came.
I did wonder though, whether the crunch would be so sudden and rapid that the collapse would happen before markets could be cleared, as counterparties failed to perform, courts clogged, liquidators were overwhelmed and the whole stack of cards collapsed. I didn't think so, but wasn't too sure. It was great to see the crunch come and in real-time testing, even with a 911 assist, the systems held.
TJ, we are still waiting, and getting elderly. This is like the second coming. Should we head for the mountain top yet?
Mqurice |
