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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 382.95-0.8%4:00 PM EST
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To: dvdw© who wrote (72352)3/25/2011 3:06:27 PM
From: elmatador  Read Replies (1) of 217740
 
The same can be said of all the bailouts aimed at homeowners, automakers and other beneficiaries of governments largesse. So far the crisis has produced precious little of the creative destruction Schumpeter saw as essential for capitalism's long- term health.

Preventing this necessary via tax cuts , cash for clunkers incentives, and programs designed to prop up the housing market will only delay the inevitable reckoning.

But it will have to take place. Debt will have to be forgiven, banks will have to go under, automakers will have to shutter factories, and homeowners will have to leave homes they can no longer afford.
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