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Arraya.
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August 14, 2009 at 6:47 PM #16186August 15, 2009 at 3:55 PM #444969
jpinpb
ParticipantThis is too alarming to contemplate.
August 15, 2009 at 3:55 PM #445162jpinpb
ParticipantThis is too alarming to contemplate.
August 15, 2009 at 3:55 PM #445499jpinpb
ParticipantThis is too alarming to contemplate.
August 15, 2009 at 3:55 PM #445571jpinpb
ParticipantThis is too alarming to contemplate.
August 15, 2009 at 3:55 PM #445752jpinpb
ParticipantThis is too alarming to contemplate.
August 15, 2009 at 4:58 PM #444998bsrsharma
ParticipantExactly why is a “FDR style” Bank Holiday needed and what would it achieve?
Differences between then and now:
1. FDIC – no need for bank runs since FDIC pays depositors for insured amounts when banks fail.
2. If FDIC runs short of funds, Treasury will replenish it, if needed with Congress’s approval. See TARP program of 2008 for precedent.
3. Fed has no restraint or constraint of gold backing or convertibility problem of 1930s (or debt of other nations). So liquidity expansion potential is limitless.
4. Bernanke may or may not know many things; but he has written books on Great Depression. So, one thing he won’t do is repeat 1930’s techniques.
I think HSL should bring “More Data” to this Pigg
August 15, 2009 at 4:58 PM #445192bsrsharma
ParticipantExactly why is a “FDR style” Bank Holiday needed and what would it achieve?
Differences between then and now:
1. FDIC – no need for bank runs since FDIC pays depositors for insured amounts when banks fail.
2. If FDIC runs short of funds, Treasury will replenish it, if needed with Congress’s approval. See TARP program of 2008 for precedent.
3. Fed has no restraint or constraint of gold backing or convertibility problem of 1930s (or debt of other nations). So liquidity expansion potential is limitless.
4. Bernanke may or may not know many things; but he has written books on Great Depression. So, one thing he won’t do is repeat 1930’s techniques.
I think HSL should bring “More Data” to this Pigg
August 15, 2009 at 4:58 PM #445529bsrsharma
ParticipantExactly why is a “FDR style” Bank Holiday needed and what would it achieve?
Differences between then and now:
1. FDIC – no need for bank runs since FDIC pays depositors for insured amounts when banks fail.
2. If FDIC runs short of funds, Treasury will replenish it, if needed with Congress’s approval. See TARP program of 2008 for precedent.
3. Fed has no restraint or constraint of gold backing or convertibility problem of 1930s (or debt of other nations). So liquidity expansion potential is limitless.
4. Bernanke may or may not know many things; but he has written books on Great Depression. So, one thing he won’t do is repeat 1930’s techniques.
I think HSL should bring “More Data” to this Pigg
August 15, 2009 at 4:58 PM #445601bsrsharma
ParticipantExactly why is a “FDR style” Bank Holiday needed and what would it achieve?
Differences between then and now:
1. FDIC – no need for bank runs since FDIC pays depositors for insured amounts when banks fail.
2. If FDIC runs short of funds, Treasury will replenish it, if needed with Congress’s approval. See TARP program of 2008 for precedent.
3. Fed has no restraint or constraint of gold backing or convertibility problem of 1930s (or debt of other nations). So liquidity expansion potential is limitless.
4. Bernanke may or may not know many things; but he has written books on Great Depression. So, one thing he won’t do is repeat 1930’s techniques.
I think HSL should bring “More Data” to this Pigg
August 15, 2009 at 4:58 PM #445782bsrsharma
ParticipantExactly why is a “FDR style” Bank Holiday needed and what would it achieve?
Differences between then and now:
1. FDIC – no need for bank runs since FDIC pays depositors for insured amounts when banks fail.
2. If FDIC runs short of funds, Treasury will replenish it, if needed with Congress’s approval. See TARP program of 2008 for precedent.
3. Fed has no restraint or constraint of gold backing or convertibility problem of 1930s (or debt of other nations). So liquidity expansion potential is limitless.
4. Bernanke may or may not know many things; but he has written books on Great Depression. So, one thing he won’t do is repeat 1930’s techniques.
I think HSL should bring “More Data” to this Pigg
August 15, 2009 at 10:19 PM #445088barnaby33
ParticipantThis is too alarming to contemplate.
Why? While by no means the most likely outcome, in my opinion, what about this scenario is to alarming to contemplate? You mean you might have to look up from your own concerns for a bit and focus on other more concrete issues like basic necessities? A house in PB would no longer be your prime economic focus? I’d love to hear why this is so alarming.
I don’t see a bank holiday as likely, we don’t have a gold backed currency, and the world has not shifted away from US demand enough. That will take years, unless of course we actually go through with Obamacare. If that happens, then that alarming scenario, whether too alarming or not, is front and center.
Josh
August 15, 2009 at 10:19 PM #445282barnaby33
ParticipantThis is too alarming to contemplate.
Why? While by no means the most likely outcome, in my opinion, what about this scenario is to alarming to contemplate? You mean you might have to look up from your own concerns for a bit and focus on other more concrete issues like basic necessities? A house in PB would no longer be your prime economic focus? I’d love to hear why this is so alarming.
I don’t see a bank holiday as likely, we don’t have a gold backed currency, and the world has not shifted away from US demand enough. That will take years, unless of course we actually go through with Obamacare. If that happens, then that alarming scenario, whether too alarming or not, is front and center.
Josh
August 15, 2009 at 10:19 PM #445619barnaby33
ParticipantThis is too alarming to contemplate.
Why? While by no means the most likely outcome, in my opinion, what about this scenario is to alarming to contemplate? You mean you might have to look up from your own concerns for a bit and focus on other more concrete issues like basic necessities? A house in PB would no longer be your prime economic focus? I’d love to hear why this is so alarming.
I don’t see a bank holiday as likely, we don’t have a gold backed currency, and the world has not shifted away from US demand enough. That will take years, unless of course we actually go through with Obamacare. If that happens, then that alarming scenario, whether too alarming or not, is front and center.
Josh
August 15, 2009 at 10:19 PM #445692barnaby33
ParticipantThis is too alarming to contemplate.
Why? While by no means the most likely outcome, in my opinion, what about this scenario is to alarming to contemplate? You mean you might have to look up from your own concerns for a bit and focus on other more concrete issues like basic necessities? A house in PB would no longer be your prime economic focus? I’d love to hear why this is so alarming.
I don’t see a bank holiday as likely, we don’t have a gold backed currency, and the world has not shifted away from US demand enough. That will take years, unless of course we actually go through with Obamacare. If that happens, then that alarming scenario, whether too alarming or not, is front and center.
Josh
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