Originally posted by: Evan
Originally posted by: nullzero
PC Surgeon,
Those of us who even said the word hyperinflation were laughed over a year ago. Now all the idiot keynesian economist and believers are running around like a chicken with its head chopped off with no idea how to fix this problem other then destroying the currency and the country. LegendKiller and others have been touting all the bailouts and impotent programs that the government and FED has come up with.... After each program passes it has almost no effect on stopping the train from derailing. The more you screw with the free markets the more screwed up the economy will get.
We didn't see the financial system collapse, that
clearly would have happened now that we've seen the markets react to the turmoil of financial uncertainty for 6 months, all of which a
direct reaction to the scare of
private financial institutions' risky assets, little to do with the bailouts themselves being fatally flawed. You'd have to be completely out to lunch to think we could let companies like Bear, Fannie, Freddie, AIG, etc. collapse, all of whom originally accounted for $6T out of $10T in assets, and not experience a deep depression. That clearly won't happen now barring a terrorist attack, so we've probably seen the worst of it. Fleshing out the CDS/CDO is the final (or original depending on your perspective) hurdle, which is likely what this soon to be announced next program out of the administration is targeted towards.
