The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: MulhollandDrive who wrote (152998)	10/1/2008 11:12:35 AM
From: ChanceIs	Read Replies (4) of 306849

RE: Denninger Interesting. Kenninger doesn't explain why our government feels obligated to allow our Treasury to purchase bad foreign debt under the "Rescue Package." The only things I can conjure is that there is an elaborate kick-back scheme or that the foreign governments are playing the 'we will dump your Treasury paper if you don't' card. The former doesn't seem realistic. After all, once you have been pad off to the tune of $1 billion, who could really want more??? The second item is more plausible. Some might call it blackmail. At the end of the day we will have to stand up to this and let the foreign governments eat a big chunk of their foolish purchases of American securities. Lets recall a little history. Once upon a time, there was a horribly inbred ruler in Central Europe who had his nose out of joint because he didn't have any colonies. He started a little war and got his a*& kicked. The victors levied huge war reparations - beyond any ability to repay. The vanquished started to print money so fast that the hyper inflation made Reagan's misery index look like a walk in the park. Then a little man with a mustache started blaming their troubles on a certain religious group and preached the virtues of nationalism - with a little totalitarianism thrown in on the side. T'wernt pretty what happened. What would be different today??? Vast sums the US couldn't possibly pay??? Default. War. We may as well start writing off the bad debt today and face the global meltdown. Key question: Are we entering 1929 all over again, or 1938?? Another question: Who is Karl Denninger? He speaks well. I visited the various blogs and websites he sponsors. Can't find a bio or curriculum vitae.

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