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Old 04-10-2009, 03:44 AM
 
11,944 posts, read 14,755,915 times
Reputation: 2772

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I think we have some common sense kicking in folks!
http://www.reuters.com/article/topNe...5377PR20090409

Quote:
Even at larger institutions, "failure does have to be an option in an economic system such as ours," he said, adding that as part of the resolution process, senior management at the failed firms should be replaced.

Summers said there was little choice now but to do everything possible to stimulate economic activity. But he said the Fed must be ready to act decisively in the medium term to restrain spending so that inflation is contained.
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Old 04-10-2009, 03:53 AM
 
Location: San Antonio, TX
1,030 posts, read 1,451,245 times
Reputation: 255
too late considering all the billions of funny money he already printed with no backing.
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Old 04-10-2009, 06:34 AM
 
Location: Great State of Texas
86,052 posts, read 84,321,515 times
Reputation: 27718
Not all that money is flowing in the economy. Much of it went into the banks and stopped there.
In order to take the money out of circulation they need to raise interest rates before hyperinflation kicks in.

The problem though is that the money is not in circulation like they wanted so I don't know how well this will work out.
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Old 04-10-2009, 06:43 AM
 
Location: Holly Springs, NC USA
3,457 posts, read 4,645,549 times
Reputation: 1907
Ironically, Reuters had an article a couple of days ago concerning predicted inflation:

Author who predicted crisis sees inflation ahead | U.S. | Reuters

I am more inclined to believe this than this administration who appear to be in WAY over their heads.
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