Please keep in mind that by doing so, the Federal Government might also explicitly guarantee Fannie & Freddie's mortgage liabilities, effectively DOUBLING OVERNIGHT the size of the National Debt!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Holly Molly, Batman!!!!!!!
Herb Stein famously quipped "anything that can't go on forever, won't", and it appears that our system of piling debt onto the economic system is coming to a screeching halt.
But let me ask you something.
The top 20 peak oil aware financial blogs on the web have ALL been incredibly accurate in their analysis of this, and have been shouting into the wind for years. Yet every sell side analyst on Wall Street (with the exception of CIBC's Rubin), every regulator, every presidential candidate, Alan Greenspan, Ben Bernake, Hank Paulson, etc... missed this completely.
Wouldn't we be better off firing all those folks and hiring the blogsphere brain trust in their place?
Just wondering.
Mentatt (at) yahoo (dot) com
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