To: arete
You are correct in your analysis, Richard. The political class refuses to allow the bad debt to be liquidated. The same thing caused the Great Depression. Liquidate, and get it over with.
52 posted on
06/29/2003 11:01:31 AM PDT by
Iris7
To: Iris7
The same thing caused the Great Depression. Liquidate, and get it over with.I had hoped that Greenspan would eventually come to his senses and do the right thing. That doesn't appear to be the case. It isn't politically acceptable (remember the warning of Jim Bunning to Greenspan) and now, it may even be too late.
Richard W.
53 posted on
06/29/2003 11:07:13 AM PDT by
arete
(Greenspan is a ruling class elitist and closet socialist who is destroying the economy)
To: Iris7
"You are correct in your analysis, Richard. The political class refuses to allow the bad debt to be liquidated. The same thing caused the Great Depression. Liquidate, and get it over with."
GACK! Largest bankrupties rolling through last year (kmart, wcom, gx, etc.) and you say that. If you believe that, I have $100,000 of WCOM bonds I've got to sell you at par.
56 posted on
06/29/2003 11:22:08 AM PDT by
WOSG
(We liberated Iraq. Now Let's Free Cuba, North Korea, Iran, China, Tibet, Syria, ...)
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