You are working overtime, LB. And quite rightly too. Very worrying times. No doubt the US is headed for a dictatorship or oligarchy, but I guess from your brief cv that you, like me, will not be here to suffer it. So your posts are truly altruistic in that sense and I thank you for them.
As an addendum, LB. On the Roubini site you used to chip in regularly to the discussion - which helped to keep it interesting, even though Roubini himself tended to remain aloof (not too surprising given the number of "I'm first" and "what do I do with my mother's shares"-type postings). But Seltzer, Yves Smith et al do contribute to the discussions which tends to make them more interesting and highbrow than Roubini's. So how about some regular feed-back?
@ anonymousMany thanks for your kind words. I still post in the comments on Professor Roubini's site. It is still my blog home. One of the distressing things about this blog over here has been the inappropriate comments from some few nutcases and malcontents. I appreciate that I can't please everyone, but where I would scroll over these on RGE on the rare occasions they occur, over here I have to have a proprietary interest in culling them. That is unpleasant, but I suppose goes with the territory.
Rarely does someone with understanding also possess eloquence and clarity of expression. You sir, have both. Cherish them!
Great quote. This is a solvency crisis rather than a liquidity crisis. A full bail out, rather than a discounted one, now appears to be the aim so $700 billion would just be the ante. If they succeed with this unconstitutional fraud, it will be the greatest mis-allocation of capital in history.
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