Quote:
Originally Posted by Claeren
$700 billion is nothing.
It is a tiny drop in the bucket.
America does not have a liquidity problem, it has a solvency problem.
There is simply not enough capital in the entire country to support the level of debt in the entire country and the only solution left is to print money to try and make up the difference > there is no way in which this ends well over the short-medium term.
Some really good reading:
http://www.minyanville.com/
Claeren. |
Warren Buffett seems to think the US treasury will turn a profit off the $700 billion bailout. I agree they can't just keep spending but they need to do something to avoid a full on crash.