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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: mutulu who wrote (141965)8/20/2008 7:23:22 AM
From: ChanceIsRead Replies (2) of 306849
 
>>>Rogoff: The world cannot grow its way out of this slowdown<<<

I have seen in the last six months, several experts express the opinion that the marginal utility of an increased dollar in debt has gotten very small. For example and guessing at numbers, ten years ago, a dollar of national debt might have purchased $0.60 in growth. Today that might be down to a nickel. Regardless, there is much less bang for the buck.

I think this very important to remember.

The traditional central bank solution to a slowdown has been to expand money. That well has been visited too often and is now dry.

I agree with Rogoff. We can't grow out of this one. A painful pruning of the dead wood from the economy has to take place.
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