Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (71822)	11/30/2007 4:25:13 PM
From: Perspective	Read Replies (3) of 116555

Mish, that is the most incredible blog you've ever written! Holy cow, I didn't realize the hollowed out shell that our banking system has become. No wonder they're getting so panicked about the seizing of short-term paper - that's where all our checking deposits are held!!! Simply unbelievable. Greenspan really hosed us all. I just had to give a groan when I saw the date of the sweeps "innovation" - right at the start of our credit bubble. Amazing what happens when the system runs without any effective reserve requirement. What a bunch of fricken morons. I always wondered what you meant by the "elimination of reserve requirements". Now I know. I'm not sure I wanted to, either. As if I'm not bearish enough already. Jesus Christ - did we learn NOTHING from the 1930s?!? `BC

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