09-29-2008, 01:18 PM
Doing nothing is exactly what is going to happen, even if another 700 billion dollars is pitched at the solution.
Lost in the news today that the fed acted on its own with other central banks and pitched in 650 billion today. Obviously to very little effect.
The fact is due to criminal inattention the problem was allowed to grow to such proportions that it's simply too big to tackle. We have the options of throwing money at the problem, and failing--which has gone on for a year now--or quitting throwing money at the problem, and failing.
The comes a point where it simply doen't make sense to pitch good money after bad. We are looking at a 10's of trillions of dollars problems. The number is simply unquantifiable, but it's much much more than the public understands.
Lost in the news today that the fed acted on its own with other central banks and pitched in 650 billion today. Obviously to very little effect.
The fact is due to criminal inattention the problem was allowed to grow to such proportions that it's simply too big to tackle. We have the options of throwing money at the problem, and failing--which has gone on for a year now--or quitting throwing money at the problem, and failing.
The comes a point where it simply doen't make sense to pitch good money after bad. We are looking at a 10's of trillions of dollars problems. The number is simply unquantifiable, but it's much much more than the public understands.