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Originally Posted by wig
See, I just can't agree with this. I don't think it is obvious at all that to let it fail and start over would have been best. And when specifically to have pulled the plug?
On GFY, it's easy to say pull the plug, freeze the global credit markets, hasten in the biggest financial collapse and depression the world has ever seen and probably set off multiple wars.
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Well wig, I only can tell you from my understanding of economics/world markets/us markets that you're going to see a lot worse when we finally go down, and we can both agree that that's inevitable. Propping up a failed economic system and flawed fundamentals with the same flawed fundamentals and a printing press is only going to make it worse for everybody.
The "when" is not something I can answer specifically, but I think it should have been before Obama initiated the bailouts.
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Not in the least. Were you around when Xpics was raising click prices?
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No I was not, but I know that a pure gold standard with a proper gold cover clause would be a hell of a lot better than anything we've been doing with Keynesian/Government spending economics.