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Replies to Msg. #653655
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 Msg. #  Subject Posted by    Board    Date   
34912 Re: Intriguing! Someone else proposes one of Ron Paul's solutions...
   [b][color=green][i]Gary North is right. And I'm embarrassed to admit... 		Decomposed   ROUND   14 Sep 2011
 11:36 PM
34895 Re: Intriguing! Someone else proposes one of Ron Paul's solutions...
   The eCONomy and markets should have been allowed to self correct, IMHO... 		capt_nemo   ROUND   14 Sep 2011
 12:14 AM

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Intriguing! Someone else proposes one of Ron Paul's solutions...

By: Decomposed in ROUND
Tue, 13 Sep 11 11:25 PM
Msg. 34894 of 45651
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Yes, this would be terrible. Get over it. EVERY option is terrible. We are bankrupt.

Good article. 

Sept. 12, 2011, 12:00 a.m. EDT

Massive default is best way to fix the economy
Commentary: Clearing away the debt is the only way forward

By Brett Arends, MarketWatch


NEW YORK (MarketWatch) — You want to fix this economic crisis? You want to put people back to work? You want to light a fire under the economy?

There’s a way to do it. Fast. And relatively simple.

But you’re not going to like it. You’re not going to like it at all.

Default. A national Chapter 11 bankruptcy.

The fastest way to fix this mess is to see tens of millions of homeowners default on their mortgages and other debts, and millions more file for bankruptcy.

I told you that you wouldn’t like it.

I don’t like it much either. It sticks in the craw that people got to borrow all that money and won’t have to pay it back.

But you know what? The time to stop that was five or 10 years ago, when the money was being lent.

It’s gone.

And mass Chapter 11 is, by far, the least obnoxious solution to our problems.

That’s because the real cause of our economic slump isn’t too much government or too little government. It isn’t red tape, high taxes, low taxes, the growing divide between the rich and the poor, too much government debt, too little government debt, corporations, poor people, “greed,” “socialism,” China, Greece, or the legalization of gay marriage. It isn’t, in short, any of the things all the various nitwits say it is.

It’s the debt, stupid.

Full story: http://www.marketwatch.com/story/massive-default-is-best-way-to-fix-the-economy-2011-09-12?link=MW_popular


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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months