Quote:
Originally Posted by GregE
Let's put it this way.
If we get a repeat of GD1, odds are that we'll get a repeat of some, if not all, of the other shit that went with it.
In 1945 there was something like 72 million fewer people walking on the face of the earth than there was in 1935.
Methinks it might be a good idea to do anything, and everything, we can to avoid a GD2.
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of course, I am not pro GD2 because I simply fear WW3.
But my critics are based on bank system, which is must thing to do and the sooner the better, exactly as the IMF head wrote:
"Its managing director, Dominique Strauss-Kahn, warned: "If there's not a restructuring of the banking system, all the money you can put into [monetary and fiscal] stimulus will just go into a black hole.""v"
and politics are doing their sure, that bank system isnt going to be restructured in the right way, since it would have to bring down all their (biggest) sponsoring entities aka WallStreet banks.
the right thing is to clean the bank system and if its not done, then the best outcome could be repeat of Japan "lost decade" or the worst outcome aka GD2.
at least thats what the smartests (who predicted current crises) blogging economists are writting.