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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (103667)	2/9/2009 8:57:44 PM
From: TimF	Read Replies (1) \| Respond to of 542006

If they really mean a contraction, even a sharp one, "freezing" is a bad term that gives a false impression. When a liquid freezes, it stops flowing completely. In other contexts to freeze is to stop moving. If credit really had stopped flowing completely, I'm not sure anything government could do would help much. OTOH if you had such a horrible and near total failure in such a vital market mechanism, I'd have to reconsider my opposition to a heavily statist response. Fortunately it didn't happen, and isn't likely to happen.