Comments on: G-20 Meeting – Far too Many Cooks in the Food Kitchen http://mrmortgage.ml-implode.com/2008/11/16/g-20-meeting-far-too-many-cooks-in-the-food-kitchen/ Your personal tour guide through the housing finance "misinformation maze". Thu, 14 May 2009 13:28:04 -0400 http://wordpress.org/?v=2.8.1 hourly 1 By: BertDilbert http://mrmortgage.ml-implode.com/2008/11/16/g-20-meeting-far-too-many-cooks-in-the-food-kitchen/comment-page-1/#comment-8164 BertDilbert Mon, 17 Nov 2008 01:34:50 +0000 http://mrmortgage.ml-implode.com/?p=526#comment-8164 If you sent the G20 to investigate a plane crash, they would have a fancy dinner, get in some photo opps, and the final G20 statement would read "The plane crash was due to the elevation of the ground and subsequent contact." If you sent the G20 to investigate a plane crash, they would have a fancy dinner, get in some photo opps, and the final G20 statement would read “The plane crash was due to the elevation of the ground and subsequent contact.”

]]> By: peterb http://mrmortgage.ml-implode.com/2008/11/16/g-20-meeting-far-too-many-cooks-in-the-food-kitchen/comment-page-1/#comment-8133 peterb Sun, 16 Nov 2008 18:06:25 +0000 http://mrmortgage.ml-implode.com/?p=526#comment-8133 Biggest credit bubble in human history is bursting. And there's nothing anyone can do about it. But, politicians need to maintain the appearance of "solving problems". So they get together and have a party. But nothing changes. I think this is going to be so severe that even govt jobs may be lost. Biggest credit bubble in human history is bursting. And there’s nothing anyone can do about it. But, politicians need to maintain the appearance of “solving problems”. So they get together and have a party. But nothing changes. I think this is going to be so severe that even govt jobs may be lost.

]]> By: C.C. http://mrmortgage.ml-implode.com/2008/11/16/g-20-meeting-far-too-many-cooks-in-the-food-kitchen/comment-page-1/#comment-8131 C.C. Sun, 16 Nov 2008 17:45:32 +0000 http://mrmortgage.ml-implode.com/?p=526#comment-8131 In essence, what the G20 (quietly) agreed upon was that they were ready and willing to: REFLATE. And reflate they will ('they' of course, means US as the leaders of the attempt at reflation.) No, it's not going to solve much - least of all propping home prices back up to artificial levels. But it might do something for the investor like You in the short term. And that is allow you to sell into any (even briefly) sustained rally you can to get outta Dodge. Mish is right - there is massive asset deflation and liquidation going on right now, but as large as that asset deflation and liquidation is, so will the reflation be an order of magnitude larger and so too the consequences therein. There's a hose. At one end are central banks, led by the Federal Reserve. At the other end is the general economy. In between is a mountain of printed and electronic money. The delta is how long it takes for the bulging money balloon at one end to reach the general economy at the other. And reach them it will. There is no other choice. The rational choices will not be listened to because they involve an element of personal responsibility and PAIN. Pain & personal responsibility are not allowed in the new age of Big Government. And you thought 'Big Oil' was big... Peace - C.C. In essence, what the G20 (quietly) agreed upon was that they were ready and willing to:

REFLATE.

And reflate they will (’they’ of course, means US as the leaders of the attempt at reflation.)

No, it’s not going to solve much – least of all propping home prices back up to artificial levels. But it might do something for the investor like You in the short term. And that is allow you to sell into any (even briefly) sustained rally you can to get outta Dodge.

Mish is right – there is massive asset deflation and liquidation going on right now, but as large as that asset deflation and liquidation is, so will the reflation be an order of magnitude larger and so too the consequences therein.

There’s a hose. At one end are central banks, led by the Federal Reserve. At the other end is the general economy. In between is a mountain of printed and electronic money.

The delta is how long it takes for the bulging money balloon at one end to reach the general economy at the other. And reach them it will.

There is no other choice. The rational choices will not be listened to because they involve an element of personal responsibility and PAIN.

Pain & personal responsibility are not allowed in the new age of Big Government. And you thought ‘Big Oil’ was big…

Peace -

C.C.

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