Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (70538)	10/6/2008 5:01:31 PM
From: Elroy Jetson	1 Recommendation Read Replies (1) of 74559

The $700 billion was deeply unpopular with the American public. It's particularly poignant that the amount was sold as a prevention to further stock market and real estate declines -- a contradiction to our current experience so stark as to be a common topic you hear in grocery stores and the television local news. The general public consensus is the American public was duped by the banking industry, which does not auger well for any replay of this foolishness. It would be very tough to see anyone stick their neck out until after the elections on November 4. The Fed is going to empty their Balance Sheet soon, so I'm not sure what big moves they can make other than currency swaps. As the BIS has pointed out, the only solution is allowing over-priced assets to find their true reduced levels. Money spent fighting a decline in asset prices is money wasted and used to make the problem worse. .

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