Comments on: US bank bailout not a cure-all http://www.crikey.com.au/2008/09/22/us-bank-bailout-not-a-cure-all/ now with extra source Sun, 22 Nov 2009 08:49:16 +1100 http://wordpress.org/?v=2.8.6 hourly 1 By: chris http://www.crikey.com.au/2008/09/22/us-bank-bailout-not-a-cure-all/#comment-16370 chris Thu, 01 Jan 1970 10:00:00 +0000 #comment-16370 You have to hand it to the USofA. Cheers all round !<br /><br />We now face the biggest financial crisis ever. Bigger than '29, as we are so much bigger than then. Besides, the lesson of '29 is diluted a tad by the reality that we were all dead then ( think about it ).<br /><br />I am so impressed, though, by our learnings<br /><br />We face a crisis, no mistake, due to excess credit ( forget why, for a moment ) which has led to absurd consumption, and unreal asset prices.<br /><br />So we face the mother of reversals.<br /><br />But No !! We are saved by the Fed and the Treas. !!!<br /><br />How ? By, get this, credit. The mother of mothers of credit. US Govt. credit. Yes, we pay now and slug later,if wen can. <br /><br />Hypocricy ? Now,now we can't believe there is a limit, that would disrupt the known economic universe. <br /><br />So, off into the fairy story we go. <br /><br />God help you all. You have to hand it to the USofA. Cheers all round !

We now face the biggest financial crisis ever. Bigger than ‘29, as we are so much bigger than then. Besides, the lesson of ‘29 is diluted a tad by the reality that we were all dead then ( think about it ).

I am so impressed, though, by our learnings

We face a crisis, no mistake, due to excess credit ( forget why, for a moment ) which has led to absurd consumption, and unreal asset prices.

So we face the mother of reversals.

But No !! We are saved by the Fed and the Treas. !!!

How ? By, get this, credit. The mother of mothers of credit. US Govt. credit. Yes, we pay now and slug later,if wen can.

Hypocricy ? Now,now we can’t believe there is a limit, that would disrupt the known economic universe.

So, off into the fairy story we go.

God help you all.

]]> By: steve martin http://www.crikey.com.au/2008/09/22/us-bank-bailout-not-a-cure-all/#comment-16371 steve martin Thu, 01 Jan 1970 10:00:00 +0000 #comment-16371 And what happens when China says enough is enough and starts off loading it's vast assets of US dollars? And what happens when China says enough is enough and starts off loading it’s vast assets of US dollars?

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