The "financial crisis" was sold to the suckers as a LIQUIDITY problem, when in fact it was a "banking crisis" and a SOLVENCY problem.
- Liquidity is the temporary inabilty to repay debt.
- Solvency is the complete inability to repay debt.
The FED's QEternity is all about giving the insolvent TBTF banks more access to debt.
- With a debt-based currency and a debt-based economy, that is really all a Keynesian can do...until mathematics makes it impossible to continue.
Thursday, 27 February 2014
Wrong Crisis? Wrong Problem? Wrong Solution?...............................from Rico
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