> gMoney wrote: > > If the downturn is a ultimately a crisis of confidence...which is what i > hear again and again....
I just made a new thread to explain it, but this is BS. The problem, as I've said is falling asset prices. This makes banks insolvent. This normally means the FDIC takes them over. Happens every day. In the 80s every bank in Texas and Oklahoma was nationalized. The problem is that these days every major bank in the World is insolvent including all the ones in the US. Wall Street will not be happy until they know which option (see my twin peaks thread) O is going to pick, and the market won't recover until it's explicitly stated. Right now, O is stalling because Geithner has no team because the Republicans are stalling getting him his team. Normally this partisan tug-o-war might be a good thing but right now it's just weakening our economy. It's Rock and Hard Place: * Rock: Can't do the smart thing until you have the people to do it smart * Can't get the people until you tell everyone what you're going to do. * Hard Place: Can't tell everyone what you're going to do until you get the people and do it. Here's NET-NET: If you pay taxes, write your congresspeople and tell them you want Obama's T-team in there N.O.W. Until that happens we're just biding time and slowly rolling down hill. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:291460 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
