Originally Posted by Phil Hoskins
Kap17, there is logic to your point, I agree. But that is yet another short term solution to a problem that I and some others contend is a systemic weakness. It is a ponzi scheme that has no "there" there.

Yes addint a few trillion to the national debt seems like a "so what" proposition. But if you think further, that debt has to be underwritten by someone. It requires some entity to actually pony up the money to cover the debt.

We appear to be close to having run out of such savior entities. Some day it will end and then what?

Further, as is pointed out, why should we underwrite the debt but the profit goes to the investors?

I did not take on debt because I felt it imprudent. Why should I pay for your debts?

Phil,

I agree with what you say and regulation is needed in a financial world that right now lacks a lot of it. However, you have to deal with the problem at hand which is stabilizing the economy.

And as far as who's going to buy the US debt... The world so far hasn't show any significat trend that it is not willing to buy what the US government has offered even as the dollar has gotten a lot weaker.

A gem cannot be polished without friction, nor a man perfected without trials. ~Chinese Proverb

The early bird gets the worm, but the second mouse gets the cheese. ~Jon Hammond