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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (543759)	10/20/2013 7:27:40 PM
From: skinowski	Read Replies (2) \| Respond to of 793957

We are living in a land of fiscal make believe. Just out of curiosity - for how long do you, personally, think this is likely last? (Not going to hold you to it... -g).

To: Bearcatbob who wrote (543759)	10/20/2013 8:07:07 PM
From: alanrs	Respond to of 793957

Yes, there is that, extend and pretend. There is massive asset destruction as housing deflates with massive printing to offset that. Somebody with a really advanced degree in econometrics figures they can make these forces intersect at some point or at least get them in the same ballpark. That with only a vague idea about how big the derivative market (or whatever other black market is out there) (for example) exposure is, with a truly humongous unfunded pension liability at all levels of government just over the next hill. Maybe they did stumble on to the holy grail, a financial perpetual motion machine, who knows. Maybe the bankers really are to be thanked for doing gods work and keeping us safe. ARS