 Posted: Fri 6:47, 06 May 2011 Post subject: Gucci Sunglasses7Can't Wait apt Get My Piece of th |
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hubris of assuming that all you need to do to make a profit is ascertain a scatter among lent and lent asset ought sound familiar-- that's how Wall Street (with a little grease from the Fed) got us into apocalyptic trouble. So... Congress is going to take over the financial industry's destructive investments, and their destructive means, and then, being the nation's specialists on profit Fendi Sunglasses 2011, immediately turn a profit. It's only a stuff of deciding how to divvy up the loot. Mutual fund manager John Hussman points out that if the Paulson blueprint means buying the distressed assets at distressed prices, then equilibrium sheet deterioration continues: "The only course that buying the dubious assets will addition chief on the obligation side of the balance sheet is if the Treasury overpays for them." In other words, you can't have it both ways-- will it be a bailout, and lose money, alternatively will it fail in its purported task, and make a profit? (This is politics-- it'll lose money.) But once and for all Oakley Sunglasses, there's not other alternative, right? Without money and credit built out of nothing so that we have exponentially distending debt for a settled pedestal as the economic, and a congress to straight it all, there'd clearly be no economy activity at all. We'd all sit on our butts, undergoing C-Span withdrawals-- creating, creating and act nothing. The few lonesome voices who portended this credit collapse years ago, are now even extra alone. Jim Rogers and Peter Schiff, for example, say that doing nothing is absolutely one option-- the best of a lot of bad alternatives. American T.V. bookings for them arise to have actually gone down. Producers had booked them in the elapse to reserve plate debates brisk. It wasn't likely that they could actually be right (at the end of the day, they were mentioning bad things almost Wall Street and government). Now it's either also mortifying or too macabre to invite them back. The expanded emergency scope is dominated instead by those analysts who, with stunning brain-deadness, were prophesying even 2 months ago that there wouldn't be a recession. By and colossal it's these incorrect forecasters immediately demanding our consideration repeatedly to narrate us "there's no other choice". The age saw that if you're in a cavity, the premier thing is to stop excavating, can't be listened over the sound of cornering shovels. Congress will administer to stagger into some arrange of lively crisis role. A bad bailout archive is unlikely to be their final exertion to discard sand in the gears, but they can always unpack their failures on "the free market" (which they badly and intensively regulate). Copyright (c) 2008 Les Lafave |
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