cycle. Outside of the initial years when we had this bifurrent cycle, the first time buyer, which historically is driven, the market never showed up. The first time buyer went AWOL because of this huge albatross of student debt. Now I know people will have problems with that. How can you bail out the centers? We removed Emmanuel Kant and Calvinist thought from that in the last cycle when we bailed out the mortgages. There's different things you could do with that money. You can bypass Congress. You can actually give out vouchers with expiry dates on it and get people. The whole thing is to get a multiplier impact on spending. The one thing I think that has to happen is we have to reduce the size of the debt, not just the public debt, but also the private debt. How's that going to happen without there being a recession? As I was talking about before, belt tightening in the private sector and the corporate sector is going to trigger a reduction in capital spending. Coupled with (52/57)
You are viewing a single comment's thread from: