G.Kelly

Where We Go from Here: Best and Worst Cases

I fail to see the benefit of solving a debt ladden situation by going deeper in debt in the attempt to resolve the problem. Sounds very similar to a credit card addicted consumer having to borrow from one credit line in order to stave off defaulting on another.

It is well known that we have been largely a consumer credit based economy for at least the last 30 years. It is only within the last 8 years or so that consumer spending began to go into a fantasyland where a never ending supply of credit was supposed to exist. That was, of course based on the housing bubble, an it's ability to allow those caught in the illusion to draw down equity for those spending sprees.

So..............now what? What happens to our consumer credit based economy, now that our merry spender is busted? He is main source of equity decreased by half if not more?. Is there another source of "energy" for our financial machine? Personally I think not. And it certainly is NOT the artifical propping up by the Federal Banking System.....who is doing no more than printing more money to give the fleeting impression that they can stabilize/re-liquify the machine. In effect manufacturing new credit cards to use to pay off the investment community's gluttoneous rampage that has polluted the global economic system.

Enough is enough.