On 9/22/07, Thomas Dalton
<thomas.dalton(a)gmail.com> wrote:
If
you're interested in a challenge to this theory that the problems
we're having were caused solely by banks giving mortgages, Alan
Greenspan's new book is good reading. It's obviously not written from
an NPOV - of course, neither is the theory that the current economic
difficulties were caused solely by banks. Mortgages played a role, to
be sure, but a far bigger IOU not backed by anything is the national
debt, in the form of treasury securities. Google "deficits must
matter" for a preview.
I assume you mean "the US national debt". Please remember the
rest of
the world does exist.
Why do you assume I mean the US national debt, then? Is it perhaps
because it was obvious from the context that I was talking about that?
When you talked about the "current economic difficulties", I assume
you mean the "current US economic difficulties"?
Give me a break.
Can you guys take it off list? This channel doesn't need (more) off
topic discussions.
Thanks,
Filip