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I'm scratching my noggin on that one too, el dude...
Rasputin - Sat, Jul 31, 2010 - 11:28 AM
...as to how "final demand" for credit from the McMansion/McAuto buying sheeple can utterly collapse, yet overall credit continue to grow.
The only explanation I can come up with is that Uncle Thug has become the "demand of last resort".
Regarding the quad-jillion fiatscos of derivatives positions, I stopped screeching about that right after Fannie, Freddie, FHLBs, Bear Stearns, AIG, Goldman, Morgan Stanley, Merrill Lynch and the rest of the financial gamblers imploded in the Fall of 2008.
Evidently, between Uncle Thug, the Fed, the ISDA and the bettors, all the destroyed positions were successfully swept under the rug.
So, why worry about it now?
LOL.
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M3el duderino - Sat, Jul 31, 2010 - 10:09 AM
I'm scratching my noggin on that one too, el dude...
Rasputin - Sat, Jul 31, 2010 - 11:28 AM
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