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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Sunny Jim who wrote (94287)	2/16/2009 4:27:50 PM
From: Dan3	Respond to of 116555

RE: One thing that the graph tells me is that you don't come out of depressions until private debt loads come down. Yes, and all we need is a mechanism that can be implemented quickly to shift funds to do so. Retroactive FICA tax holiday. I would maintain that we don't have a chance of coming out of this depression until private debt loads come down to substantially less than 100% of GDP, and with GDP poised to fall off a cliff, that's a Herculean undertaking. We've got a long way to go and our politicians are trying to get credit flowing again?????? I know - it's unbelievable. These guys think the answer is for people to go deeper into debt. The problem is so obvious and the solution also obvious. Why can't anyone see it?