Walt L.

In the Midst of an Extreme Black Swan (Part I)

In regard to "unintended consequences" and "not knowing what's going on out there" and "black swans," here is one for you - RIGHTEOUS DEFAULT. I am beginning to hear of a lot of credit worthy people who are not going to be what they see themselves being - the one who pays their debt. No one is expecting these people, couples, to stick it to the lenders. Even the lender of last resort.

How to Spend $700B and Actually Solve the Problem

My question to these ideas is, "Who will be able to get their money out of the old banks to deposit in the new ones?" All the banks have to sell paper to honor withdrawals. But there are no buyers.