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

To: koan who wrote (95741)	3/26/2009 1:56:07 AM
From: Elroy Jetson	3 Recommendations Read Replies (1) \| Respond to of 116555

Of course the people making up an economy can avoid economic depressions by avoiding the credit bubble which precedes it - just as you can choose not to become addicted to heroin. Having already had the credit bubble, you have no choice other than to accept the deleveraging. Your choice is quick and sharp or long and drawn out. We can afford to pass out welfare over a short and sharp deleveraging. We can't afford to pass out welfare over a long number of years making up a long and drawn out deleveraging. So I recommend a short and sharp economic depression because it's kinder to ordinary people and a brutal wake-up call to speculators run amuck. .