Finally the Truth is Out

ContumacySince87 — Fri, 16 Nov 2007 15:27:00 GMT

I found a very interesting article today that I feel contains a good analysis of the US current economic situation

http://www.realclearpolitics.com/articles/2007/11/the_crash_of_2008.html

The author correctly analyzes the situation right, but I completely disagree with him when he says that the failing stock market calls for more easy money. Why should we make money more accessible to people who squandered it in the first place? That's like hiring an investment advisor, him losing your entire retirement money, and then you saying it happened because he didn't have enough money and proceeding to give him more.

There is no dilemma for Bernanke. He MUST raise interest rates. I would say at least to 10%. Yes, I'm aware that this would bankrupt many businesses and people. But we must ask ourselves if this is a terrible thing considering the alternative. These people who made bad investments and got into so much debt are to blame for the current crisis. If rates are cut further, the dollar will eventually collapse and everyone will suffer for the stupidity of others.

But unfortunatly we have a government that is owned by rent-seeking corporations that are so blinded by their lust for a higher stock price that they can't see that the walls are crumbling all around them. Luckily for them, they can always move overseas. Unluckily for us commoners, we hold worthless dollars

ContumacySince87 : inflation

Finally the Truth is Out