On Wed, Oct 1, 2008 at 1:54 PM, Julio Huato <[EMAIL PROTECTED]> wrote: > But why would people want to consume now, once and for all, their > entire wealth? Underlying debt (or, if you prefer to see it from the > creditor side, the accumulated savings of people) is the stock of > productive assets.
I was answering Charles' point about the total amount of money being enough to throw a few trillion dollars and bail everyone out. Even though the total amount of money in existence may be essentially infinite, we can only access a limited amount now - so we have to choose who to bail out: the bankers or the home-owners. (Or at least who gets how much). -raghu. -- Confucius say, dirty book rarely dusty. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
