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

To: Elroy Jetson who wrote (107142)	1/23/2010 3:02:30 PM
From: Hawkmoon	1 Recommendation Read Replies (1) \| Respond to of 116555

We are leaving a world-record sized credit bubble which needs the crap stomped out of it Maybe so... But any amount of credit overhang is a "bubble" if people suddenly find themselves unemployed and unable to service that debt. I don't see what Volcker can add to solving the situation. We need banks lending to the private sector, not the Government (which then spends it on tax credits and other "stimulus" projects that are corrupted by power politics). What we REALLY NEED is to get the financial surety sector back on track so business and lending risk can be reasonably mitigated. That should then assist in decreasing unemployment, which is ULTIMATELY the underlying cause of the TRUE financial crisis. My niece and her husband are in the process of a strategic default on their home. This is a decision they likely would not have made, were she able to find stable employment. But they just can't make it on one income. If the government is to do anything, it's to invest in the people by retraining, education, and funding advanced technologies that will bring greater productivity over the long term and generate higher paying jobs. Hawk