Deflation Message Board - Msg: 25180467

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Non-Tech : Deflation

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To: Cogito Ergo Sum who wrote (468)	11/16/2008 8:43:37 PM
From: Maurice Winn	1 Recommendation of 621

Where did the crisis originate? Sort of in the USA, but Japan and China loaned people megabucks to get into debt and the mortgagees thought they had better be in the money river or miss out, even if they could see there was risk. So if Japan and China had not accepted US$ or had converted it immediately to real things like gold, land, factories and other productive assets, then the debt ledgers would have been small. The USA can dilute the money owed and bad luck for the creditors. They are doing that. NZ housing is on the way down and so is NZ$, back to 53 yen right now. It was 83 earlier this year. The NZ deficit is booming. Loans are coming due. Something has to give. Look out below [as I have been ranting for a year or two]. Mqurice

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