Re: In Bush, Loyalists See A Good & Steadfast Man Who Has Gotten A

On 18 Nov, 15:01, "William Black" <william.bl...@[EMAIL PROTECTED]
> wrote:
> "Surreyman" <a.spenc...@[EMAIL PROTECTED]
> wrote in message
>
>
news:e4a8665c-2f11-468b-8c90-643c164c11b2@[EMAIL PROTECTED]
> On 17 Nov, 02:12, Renia <re...@[EMAIL PROTECTED]
> wrote:
>
> > Paul J Gans wrote:
>
> > > It is too late now for most measures. The US does not have
> > > enough money to have the government bail out everybody who is
> > > in trouble. There is going to be a lot of pain. A lot of pain.
>
> > Same in the UK.
>
> I can't believe the UK currently - or the Group 20.
> Cutting taxes when the fiscal chest is already emptying, heavy
> borrowing to encourage greater spending when that was the very cause
> of much of the problem.
> We should be tightening belts and paying more tax.
> Otherwise the future problems are going to magnify even more.
> But not a single major government dares to propose that.
> Lunacy.
>
> -------------------------------
>
> No.
>
> That's what was tried in 1929, =A0the result was 'The great Depression',
> something that was ended only by WWII.
>
> Prices will start falling soon due to deflation.
>
> Inflation will stay very low.
>
> To get the economy moving they've got to get more cash into the system.
>
> So it's 'Spend Spend Spend' time.
>
> It can't do any more harm, =A0it may just do some good...
>
> --
> William Black
>
> I've seen things you people wouldn't believe.
> Barbeques on fire by the chalets past the castle headland
> I watched the gift shops glitter in the darkness off the Newborough gate
> All these moments will be lost in time, like icecream on the beach
> Time for tea.

Cash, unless massively inflationary, doesn't appear from nowhere.
It has to be paid for, one way or t'other, whenever.
This whole mess has been caused by gross overspending and/or the same
thing, borrowing, without the economic base to justify that, even
though it gave an illusion of continued prosperity.
You're talking about the equivalent of Fred Smith running out of
credit 'cos his credit card was full, so he goes off to sign up for
further credit cards .............
How is he magically going to pay those off, whenever, 'cos he'll need
to, sometime.
He'll apparently be fine in the short term, able to buy his new car,
but ......................
Better that he lives in a cave and barters for a few years to get
sorted. :-))


Surreyman