axelrod608

What the Economy Needs Is a Helicopter Drop

<<As for the root cause of our economic problems, the consensus opinion among economists and laymen alike implicates overleverage, basically too much debt and too little savings>>

And how, pray tell, did we get so overleveraged and overindebted ? By a decade long "helicopter drop" of easy, cheap, unlimited credit by el Maestro, Alan "Bubbles" Greenspin.

Our current predicament was CAUSED by too much cheap money. What financial institution would have given out liar's loans if money was scarce ? Who would have borrowed $Trillions on carry trade margins if interest rates had been set by the market ?

Too many financial "experts" are blinded by economic theory and the inability to see what is plain fact. Every part of the current mess is a result of flooding the nation and the world with too damn much cheap money. And the idea that all can be fixed by throwing more cheap money into the mess ranks right up there with spiking the coffee at the AA meeting.

Are you NUTS ? Our biggest problem at this point is we have way too many financial experts who've drunk waaay too much of the koolaid, and have forgotten the concept of UNSUSTAINABLE.

A decade-long tidal wave of unlimited cheap money created an unsustainable condition. This is Humpty Dumpty, off the wall. It's time to clean up the mess in the bankruptcy courts and stop clicking our heels.