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<p>[QUOTE=&quot;Bluesboy65, post: 1101370, member: 23329&quot;]Responding to the points quoted:</p><p><br /></p><p>Debt: we can agree to disagree on this one.&nbsp; When credit is obtained the money is used to purchase things and that is stimulative.</p><p><br /></p><p>Default: From a technical perspective I can agree with your point. I just take it off the table in my scenario because a default would destroy our monetary system and our economy.&nbsp; All the Fed has to do to avoid default is to issue more paper.&nbsp; I just don&#039;t see an outright default happening.</p><p><br /></p><p>M1 Rising:&nbsp; Have not had a chance to read the article but I do agree that velocity is low.&nbsp; My point was that a low Fed fund rates enable velocity - still need takers.&nbsp; Consumer confidence has been low for an extended period and corporate balance sheets are swollen with cash; the economy has clearly been holding back.</p><p><br /></p><p>Regards,</p><p><br /></p><p>Bluesboy65[/QUOTE]</p><p><br /></p>

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