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: TH who wrote (283016)	10/13/2010 4:02:03 PM
From: saveslivesbyday	Read Replies (2) of 306849

I love this description: We are stuck in a morass of as-if economics. The double-dippers argue that ongoing fiscal stimulus is the road we must take to avoid a second recession in a repeat of 1938, as if public spending will make the credit bubble era debt go away in a few quarters rather than commit the US to a decade of rising public debt and government spending dependence, and as if the US in 2010 is Japan in 1995 with a huge trade surplus and capital account deficit, and as if we as a net foreign debtor can afford to expand the public debt for 15 years to muddle our way through a balance sheet recession to avoid a political confrontation with the banking lobby. (talk about a run-on sentence!) The debt crisis prognosticators, on the other hand, understand the limits of a debtor nation's balance sheet but they offer an equally fantastical solution, to cut spending and the deficits, as if the US was in a business cycle recession not a balance sheet recession and millions of households didn't have trillions of debt payments to make. itulip.com

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