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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (2594)	9/23/2008 3:06:32 PM
From: TimF	1 Recommendation Read Replies (1) \| Respond to of 86356

OT I don't think something like a repeat of the great depression is even remotely in the cards if we don't get a repeat of the other types of factors that went in to it (very tight money, large tariff increases, large income tax increases, price controls, and more) but just "a steep recession" is still bad. We haven't had one since at least the early eighties, recessions since then have been relatively mild. If they bail out the banks, including overseas, they are almost certain to have to bail out, on some less level, the feckless home owners. That just compounds the problem. Freezing the current situation in place and keeping a lot of uncertainty around, rather then finally getting some real asset prices and some real idea about what the paper on or based on those assets is worth.