You are correct. That is the fast solution to the credit crisis. Now what to do about the international bankers and foreign owners of our internal equity?
unfortunately, his arguments are based on a sample size of ONE depression. That is hardly a guarantee that either the economy or situation will unfold in anything like back then.
Tax revenues are already shrinking at a massive rate at the local levels. It's no exaggeration to say that we are in the shit. makloda can delude himself all he wants. When makloda does capitulate, though (probably around 2011), I'll be a buyer.
'here's your golden parachute' 'looks like an anvil' 'dont worry, it'll pop open and break your fall'
Sobering article. Fortune is putting deflation in the headlines for those int'd: http://money.cnn.com/2008/11/06/news/deflation.fortune/index.htm?postversion=2008110614
we've never had a credit orgy like this not even in the Depression that's what makes the case that it could be worse at best, we default, and our credit is shot and we are cut off to fend for ourselves with much of our production capacity sent overseas
Here's a purty picture of what happened to oil: http://seekingalpha.com/article/101220-oil-chart-with-fibonacci-retracements Demand broke the Saudi's back and demand can break the back of the US government. I don't know about you, but it brings a tear to my eye thinking of all those folks in Washington losing billions of dollars in revenue...
Don't worry, the bill for it will be 10x the banker bailout, and will take you three days a week to pay for, once Hussein allots the shares out via taxes.