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Posted on 3/5/09 at 4:04 am to kfizzle85
The push for 'mark to fantasy' is based on the assumption that the consumer economy is going to return in some form in the future. I question that premis.
Consumers are now scared savers and that is really the only way to real capital formation. If the government attempts to stop the frightened former consumers from saving, so they can restart an unsustainable consumer economy, then government is doing exactly the wrong thing.
Mark to fantasy is one more step in the wrong direction.
Consumers are now scared savers and that is really the only way to real capital formation. If the government attempts to stop the frightened former consumers from saving, so they can restart an unsustainable consumer economy, then government is doing exactly the wrong thing.
Mark to fantasy is one more step in the wrong direction.
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