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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Hawkmoon who wrote (107143)1/23/2010 3:07:17 PM
From: Elroy Jetson10 Recommendations  Read Replies (3) of 116555
 
Credit Bubbles are always resolved through bankruptcies and foreclosures.

You can spend thirty trillion dollars on stimulus spending to postpone the day or reckoning, but it still happens. But then you also have $30 trillion in extra government debt.

Volcker needs to get the liquidation over with very quickly. We can afford to care for the unemployed for a year or two, not thirty years.

A quick liquidation is far more compassionate than endless government make-work jobs in Iraq.
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