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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Elroy Jetson who wrote (104749)9/2/2009 12:39:51 AM
From: Hawkmoon3 Recommendations  Read Replies (1) of 110194
 
There are politicians who have obsessed about government debt while ignoring the main problem in the consumer and business sector.

I concur.

IMO, the TRUE PROBLEM is unemployment. Unemployment creates debt default since you have to feed the family, and pay the mortgage, before you pay your credit card. And when you can't pay the mortgage you just hunker down until the Sheriff's department comes for the eviction.

Now.. that said, the KIND of employment the government fosters is very important. It must go to maintaining infrastructure, but ALSO must be directed towards preparing the workforce to enter into technologies and industries that increase productivity.

The government doesn't exist to support corporations. It exists for its citizens. Corporations don't vote, people do. So helping corporations is only for the purpose of helping the citizens/voters who work for them.

So I don't see where giving the banks Billions for the purpose of parking that cash into T-Bills does a lot of good for the average J6P in this country.

We will continue to have deflation in this country until either private debt has been written down/off, or people have jobs that enable them to pay these debts off.

Of course, that assumes they are willing to continue to pay a mortgage on a house that's depreciated in value by 20-40%.

Hawk
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