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<p>[QUOTE=&quot;doug444, post: 1983614, member: 38849&quot;]I draw these conclusions from MEC2&#039;s answer:</p><p><br /></p><p>1.&nbsp; MEC2 &quot;gets it,&quot; big-time.&nbsp; Firmly grounded in the REALITY of the moment, not the Keynesian pipe dreams of 30 years ago.</p><p><br /></p><p>2.&nbsp; Mr. Bellman had a window seat in Economics 101.</p><p><br /></p><p>3.&nbsp; We haven&#039;t even talked about the unregulated and unintelligible 1.2 quadrillion dollars&#039; worth of derivatives; no one knows the counterparty risk, no one knows what they&#039;ve &quot;bet&quot; for or against, and no one can possibly mark them to market, so it&#039;s conceivable that many banks are hanging by a thread.&nbsp; The nominal tally is substantially more than the WORLD&#039;S entire annual GDP.&nbsp; </p><p><br /></p><p>Did you ever ask yourself WHY the Fed&#039;s so desperate to hold interest rates near zero?&nbsp; We&#039;re near the tipping point.&nbsp; It won&#039;t take much of an increment to raise our net cost of borrowing (full speed ahead, Keynesian chumps) to 50% or 60% of GDP.&nbsp; This country, and most others, are already bankrupt, including China.&nbsp; All their gold is a drop in the bucket compared to their overall economy; all the gold we &quot;might&quot; have in Fort Knox would run the U.S.A. about 8 months.&nbsp; Then what?[/QUOTE]</p><p><br /></p>

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