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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Vitalsigns who wrote (78515)4/30/2008 10:08:47 AM
From: John McCarthy  Read Replies (3) of 116555
 
Vital

I understand your concern.

On the other hand - what I **like** about it is that
it is IN THE OPEN.

And inherently proclaims, .... WE (As in We the people) ARE DIRECTLY LENDING YOU MONEY.

It (to me) avoids all the back-room, smokey filled
areanas .... in which the average American has NO IDEA
what a particuliar Fed Agency is up to.

I also think - but don't know - that it would allow
banks to WRITE-UP some of the previous WRITE-DOWNS
they have taken and thereby, free up more reserves
that can be used for lending.

As for the inherent MADNESS that this may entail, I
am certain others will post about it.

Notwithstanding, 300 million americans WILL UNDERSTAND
that THEY are putting up 50 billion (i.r. are on the hock
for) and would EXPECT to be repaid.

It is the simplicity of the plan that I admire.

All the above - PRESUMES - we are gonna pay thru the
nose no matter what - and argues that this is an
out in the open way to do it.

regards,
John
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