Reply #51: The phrase 'hunky dory' seems to have struck a nerve [View All]

I didn't intend for it to do that. I based that statement on this:



If I misinterpreted 'So What?', I apologize.

Regarding the number: You can't really claim it's BS, because the truth is that no one really knows what that number is, which is one of the problems. I've seen speculation at anywhere from 24 Trillion to 1.1 Quadrillion. Whatever the exact number, it's big. To dismiss it out-of-hand as nonsense makes no sense. If it isn't an issue, then why did we have to give the banks over a trillion dollars to keep them afloat? If it isn't an issue, then why is the government allowing the banks to keep these vehicles off their books? If it isn't an issue, why are a number of respected economists (aforementioned) saying that it is?

I'm not saying it is exactly that number. It may be more, it may be less. It is not, however, insignificant.

And I think you're correct: If we were sitting across a table or at a bar taking face to face it would be a different conversation. :toast:

Oh, and I didn't 'fuck up.' I put my money where it was safe, and I haven't lost money, and I have something real, useful and tangible. That's fine by me.

As for the Wheels Coming Off, money or no, there is no choice. We have to go through a market correction to get back to real market value and clear this crap out of the system. It's not if, it's when. I guess that would be our main point of contention.