The Residential Real Estate Post-Crash Index-Moderated Message Board

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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated

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To: TH who wrote (62259)	3/8/2012 1:58:21 PM
From: Perspective	5 Recommendations Read Replies (3) of 119360

A couple nice quotes I tripped across: Q: Do you think all this -sometimes coined ‘keynesian’- trillion packages and political marketing will have a positive impact, or the crisis will go deeper in the US? MH: It’s a travesty to call this Keynesian. Keynes wanted to minimize the debt overhead, not bail out the financiers and debt pyramiders. Q: The best solution for the financial world is to induce the euthanasia of the rentier system as Lord Keynes suggested once (Chapter 24, Concluding Notes) in his General Theory of Employment, Interest and Money (1936)? MH: By that, he meant a debt write-down. This is the only ultimate solution. As Adam Smith noted in 1776, no government ever has repaid its foreign debt. Today one can say the same thing about the private sector. Bankruptcy seems to be the indicated way to wipe it out. Governments are postponing this resolution by bailing out creditors – not debtors. janelanaweb.com `BC

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