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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (101230)	2/12/2009 5:44:45 PM
From: SG	Read Replies (1) \| Respond to of 110194

And that's probably a fake GDP. SG

To: Elroy Jetson who wrote (101230)	2/12/2009 6:13:05 PM
From: benwood	4 Recommendations Respond to of 110194

We could call it the Buzz Lightyear School of Economics: To infinity, and beyond!! It's not easy getting to infinity in the first place... maybe that's the problem with Friedman. <g>

To: Elroy Jetson who wrote (101230)	2/12/2009 6:44:34 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 110194

I think the key is how to provide debt service and pay down over time, rather than outright debt default. Limiting new credit to qualified borrowers (20% down), while facilitating borrowers to pay off what they already have accumulated seems a sound policy course. Hawk

To: Elroy Jetson who wrote (101230)	2/12/2009 9:39:43 PM
From: bart13	Read Replies (2) \| Respond to of 110194

That's not what Friedman said: “...different and feasible actions by the monetary authorities could have prevented the decline in the money stock—indeed, produced almost any desired increase in the money stock. The same actions would also have eased the banking difficulties appreciably. Prevention or moderation of the decline in the stock of money, let alone the substitution of monetary expansion, would have reduced the contraction’s severity and almost as certainly its duration.” Milton Friedman and Anna Schwartz 1963, A Monetary History of the United States 1867-1960, Princeton University Press, Princeton, p. 301