Submitted by CA renter on September 21, 2008 - 3:33pm
This is a link to Karl Denninger's newest petition. He is the author of a number of petitions we've (the bubble blog community) signed over the years, and is safe to use (privacy rights advocate).
Submitted by davelj on September 21, 2008 - 4:46pm.
I love Karl's ideas, but if we did these things tomorrow, we'd be in a Depression with 100% certainty. Absolutely no doubt. The system, already teetering on the edge, would implode.
Submitted by CA renter on September 21, 2008 - 5:42pm.
I posted this in the other thread where we discussed a potential bailout...what, exactly, do you think the consequences would be?
Personally, I think a very tight credit market is not a bad thing. It's been too long that we've pushed credit around as if it somehow creates growth, without anyone questioning the debt on the other side of the transaction which is deflationary for the future.
I love Karl's ideas, but if we did these things tomorrow, we'd be in a Depression with 100% certainty. Absolutely no doubt. The system, already teetering on the edge, would implode.
I posted this in the other thread where we discussed a potential bailout...what, exactly, do you think the consequences would be?
Personally, I think a very tight credit market is not a bad thing. It's been too long that we've pushed credit around as if it somehow creates growth, without anyone questioning the debt on the other side of the transaction which is deflationary for the future.