This whole discussion sounds like a bunch of buggy whip makers in 1903

"F. George McDuffee" wrote in message
...
This looks like a good spot to post this little morale builder
from the Financial Times [UK]

http://www.ft.com/cms/s/0/0e63ad12-e...0779fd2ac.html

"Suppose, then, that Prof Roubini were right. Losses of
$2,000bn-$3,000bn {2 to 3 trillion in American-speak} would
decapitalise the financial system. The government would have to
mount a rescue. The most plausible means of doing so would be via
nationalisation of all losses. While the US government could
afford to raise its debt by up to 20 per cent of GDP, in order to
do this, that decision would have huge ramifications. We would
have more than the biggest US financial crisis since the 1930s.
It would be an epochal political event."
===========
FWIW -- it appears the "money" being created and pumped into the
financial markets by the fed is *NOT* being used for the needed
liquidity in bond/credit markets but rather to fuel commodity
speculation, i.e. 110$/bbl oil, 12$ wheat, 20$ silver, etc.

The pyromaniacs are burning the house down [again].


Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).