Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: alecqss

No, the economy wasn’t strong then, and it isn’t strong now. We built up far too much debt to finance a pittance of growth in the last seven years, and this level of new debt creation could not be extended forever.

In this case, it was the basement that cracked, not the roof. When the financial sector implodes, it takes the economy with it. That’s been proven true in every financial sector collapse in every country where it has happened for the last 150+ years.


29 posted on 03/15/2009 12:27:43 PM PDT by NVDave
[ Post Reply | Private Reply | To 3 | View Replies ]


To: NVDave
When the financial sector implodes, it takes the economy with it.

Only it did not implode.
34 posted on 03/15/2009 2:33:21 PM PDT by alecqss
[ Post Reply | Private Reply | To 29 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson