It’s the last game of pass the parcel. When the tech bubble burst, balance sheet problems were passed to the household sector [through mortgages]. This time they are being passed to the public sector [through governments’ assumption of banks’ debts]. There’s nobody left to pass it to in the future.David Bowers of Absolute Strategy Research
Empire to Kingdom of God (17)
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More expansion occurs as the gospel is proclaimed mightily in the power of
the spirit.
The government shrinks as its power collapses.
17 hours ago
Great Blog! Just put you on my blog roll ... And as for that passing the bucket through mortgages ... only too true and only the beginning:
ReplyDeleteOf Mortgage Brokers, ARMs, Attrition and Marathons