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To: maceng2 who wrote (377350)	11/2/2008 4:28:10 PM
From: prosperous	Respond to of 436258

The sooner govt learns to accept reality and work on recovery (as indicated in Martin Weiss's article in the next post) instead of rescue better off we would be; that means accepting and taking pain until excesses are cleared. None of the approaches will avoid job losses, only by accepting the pain and taking the losses quickly we can start toward recovery faster; if we take the long path and try to bring back old days of artificially low interest rates etc we will suffer through a prolonged period of unemployment, in the process losing a lot of money, jobs, and people's confidence/trust(of whatever is left). We will take same intensity of pain one way or the other, we now only get to choose the duration. At this time stock markets and housing are toast, any effort spent to prop those up is a waste of everything put into it; reflation effort can quickly take to monetary reset scenario that TJ describes; I have been skeptical of that possibility and have been secretly hoping it does not happen but with Bernake/Paulson actions I am not so sure; have a very faint hope that Obama brings in at least a few right people who care about the country and are willing to think about a bit longer run than 6 months to a year but that hope is faint. Time to get for a election rally for next few days engineered to support McCain