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
Rulers and Justice
-
Romans 13:3-5 relates back to Proverbs 21:15. I presume that Paul recalled
this verse when he was thinking and writing about Rulers and justice. A
litera...
1 week ago
1 comment:
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:
Of Mortgage Brokers, ARMs, Attrition and Marathons
Post a Comment