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

To: TimF who wrote (2597)	9/23/2008 4:04:39 PM
From: Road Walker	Respond to of 86356

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. It wouldn't be exactly like the great depression, and several of those factors are in place as well as other that could be as harmful. 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. I don't have a good solution... if you could roll back about 10-15 years but you can't do that.