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Old 12-18-2008, 03:44 AM
 
12,869 posts, read 13,421,740 times
Reputation: 4453

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Indeed, when the entire concept of evading responsibility of risk via this method first reared its ugly head via Ms. Master’s bright idea, the regulatory agencies should have shut this whole thing down, pronto. Instead, they tracked it as the thing ballooned to over $600 TRILLION in size. It is still there! The process activated by the collapse of the Japanese ZIRP lending business is still collapsing. It is NOT done at all.

please read the whole blog by supkis as it is excellent to understand what is going on. she also has a blog on the japanese ZIRP lending:
http://emsnews.wordpress.com/2008/12...-family-fraud/
http://emsnews.wordpress.com/

The first time in history, a major, the #2 economic power on earth decided to create a 0% interest banking system. They clung to this despite inflation in Japan rising to nearly 3%. This is the ultimate source of much of the GLOBAL lending we saw this last decade.

The US used this fake, cheap lending to overspend. We allowed our government to go far over budget, doubling our national debt. We also personally and corporately went deep into debt because the payments of interest were ridiculously low.

Now, the entire manufacturing parts of the planet are going ZIRP. This is total insanity. People talk about how we are ’saving money’ now. But this is obviously FALSE.

We are PAYING OFF DEBTS. Not saving any money. Most discretionary incomes as well as manufacturing profits and asset value rises are gone. There are none of these happening. We see dropping incomes, dropping profits and dropping assets all over the place.

And the only debts that are now rising are GOVERNMENT. So the great unwinding has barely begun.
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Old 12-18-2008, 07:10 AM
 
Location: Charleston, SC
5,615 posts, read 13,139,612 times
Reputation: 2539
So I'm interested in what should be done instead? That's not something I hear a lot of.
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Old 12-18-2008, 08:52 AM
 
18,320 posts, read 16,258,423 times
Reputation: 7075
Quote:
Originally Posted by floridasandy View Post
Indeed, when the entire concept of evading responsibility of risk via this method first reared its ugly head via Ms. Master’s bright idea, the regulatory agencies should have shut this whole thing down, pronto. Instead, they tracked it as the thing ballooned to over $600 TRILLION in size. It is still there! The process activated by the collapse of the Japanese ZIRP lending business is still collapsing. It is NOT done at all.

please read the whole blog by supkis as it is excellent to understand what is going on. she also has a blog on the japanese ZIRP lending:
ALL IN THE FAMILY FRAUD « Culture of Life News
Culture of Life News

The first time in history, a major, the #2 economic power on earth decided to create a 0% interest banking system. They clung to this despite inflation in Japan rising to nearly 3%. This is the ultimate source of much of the GLOBAL lending we saw this last decade.

The US used this fake, cheap lending to overspend. We allowed our government to go far over budget, doubling our national debt. We also personally and corporately went deep into debt because the payments of interest were ridiculously low.

Now, the entire manufacturing parts of the planet are going ZIRP. This is total insanity. People talk about how we are ’saving money’ now. But this is obviously FALSE.

We are PAYING OFF DEBTS. Not saving any money. Most discretionary incomes as well as manufacturing profits and asset value rises are gone. There are none of these happening. We see dropping incomes, dropping profits and dropping assets all over the place.

And the only debts that are now rising are GOVERNMENT. So the great unwinding has barely begun.
floridasandy,

"We" can never pay off debts. All "we" can do is shrink the nominal supply of currency, which is debt. Only an individual can pay off debt.

And yes that is why the Yen has gained more value than the dollar. As assets have fallen the Yen that monetized them is contracting with it and lots of things were monetized with Yen. Japanese were working themselves to death to finance speculators.
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