DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - In America, you pay for your neighbour's mortgage as well

**MwhwF6bp** · 02-21-2009, 03:55 PM

jia lat pay for others mortgage

Let's face it - nationalising the banks (UK), throwing good money after bad (US) and giving banks blank cheque guarrantee (OZ) ... all these are not going to solve the current economic crisis.

Unless someone face up to the fact that the current financial system is irrepairably broken and let the free market determine the winners and throw out the losers, otherwise, we will just be dragging the losers along and we cannot move forward.

I think US and UK will be looking at a loooooooooooong recession.

But of course, if the rest of the world take America's burden by buying all the newly minted DOLLARS, America will be saved.

I have already warned about moral hazards of Bank Deposit Guarantees to one of the nicks of Aussiee Prick, but no response on that.

02-21-2009, 03:55 PM	#4
MwhwF6bp Join Date Oct 2005 Posts 506 Senior Member	jia lat pay for others mortgage Let's face it - nationalising the banks (UK), throwing good money after bad (US) and giving banks blank cheque guarrantee (OZ) ... all these are not going to solve the current economic crisis. Unless someone face up to the fact that the current financial system is irrepairably broken and let the free market determine the winners and throw out the losers, otherwise, we will just be dragging the losers along and we cannot move forward. I think US and UK will be looking at a loooooooooooong recession. But of course, if the rest of the world take America's burden by buying all the newly minted DOLLARS, America will be saved. I have already warned about moral hazards of Bank Deposit Guarantees to one of the nicks of Aussiee Prick, but no response on that.
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