Article

2009-01-10 Home Front Economy

The Great Credit-Crunch Hoax of 2008

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Posted by tipper 2009-01-10 07:21|| || Front Page|| [5 views ] Top

#1 Seriously, a Lew Rockwell article? Next up, Hal Turner?

Posted by Anonymoose 2009-01-10 08:56|| 2009-01-10 08:56|| Front Page Top

#2 The only thing worse than Lew Rockwell would be a Goldbug and since we've already posted one of those, things are getting better.

Posted by Mike N. 2009-01-10 10:15|| 2009-01-10 10:15|| Front Page Top

#3 TARP was presaged on the common wisdom that lending had come to a screeching halt. The graph embedded in the article shows otherwise. Someone is telling porkies. Wouldn't be Hank Paulson, would it?
If so, he would make Madoff look like a rank amateur, in pulling off the greatest bank robbery of all times..

Posted by tipper 2009-01-10 10:57|| 2009-01-10 10:57|| Front Page Top

#4 He's a conspiracy nut, but generally correct in his analysis.
We've been sold out boys.
We've spent Trillions and now they want Trillions more.

Posted by bigjim-ky 2009-01-10 12:41|| 2009-01-10 12:41|| Front Page Top

#5 I've said it before, but I don't mind saying it again...the events that resulted in this economic collapse were waaay too conveniently timed. Massive increase in subprime-mortgage securitization...followed by oil shock...followed by Bear Stearns and AIG collapses...followed by Fan/Fred implosion...followed by the coronation of the Trillion Dollar Messiah. I don't like finding myself on the same side as the tinfoil-hat crew who think JFK was assassinated by the Illuminati, but there's no pheucking way it was just a series of random events.

Posted by Ricky bin Ricardo (Abu Babaloo) 2009-01-10 15:29|| 2009-01-10 15:29|| Front Page Top

#6 We hit Peak Credit, there's no conspiracy needed.

Posted by Bright Pebbles 2009-01-10 16:32|| 2009-01-10 16:32|| Front Page Top

#7 A little cognitive dissonance there boys? Just because you think of Lew Rockwell as a nut doesn't necessarily mean the facts are wrong.

Posted by pacific_waters 2009-01-10 20:47|| 2009-01-10 20:47|| Front Page Top

#8 It's not the facts are wrong, it's that the chart the author is showing us isn't worth much. If anything, it would show that the bailout had the intended effect.

The bailout wasn't because 'all lending stopped' it was because if the worlds largest banks start falling like cards, then lending [i]does[/i] stop. Or if AIG goes, it takes corporate credit ratings all over the world down with it.

Posted by Mike N. 2009-01-10 21:09|| 2009-01-10 21:09|| Front Page Top

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