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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (76409)	2/22/2000 10:41:00 PM
From: Skeeter Bug	Respond to of 132070

>>So, when the roof falls in, how do we get hurt? << tom, i think the biggest risk is the loss of employment.

To: Tommaso who wrote (76409)	2/23/2000 9:58:00 AM
From: Mike M2	Respond to of 132070

tomasso, I think you should be taxed and suffer like everyone else -it is only fair! -g- the two largest depressions 1837 & 1930's saw the liquidation ( tough love) of large amounts of private debt. Much of the current excesses are funded with private debt - debts which are either paid or defaulted on. Unlike public debt private debt cannot be monetized. It is possible that the government will will purchase bad private debt in an attempt to monetize it but at some point we must see a contraction of credit ( deflation) and the attendant falling asset prices stocks & real estate. RMBS up another 20 ho ho ho Mike