Wrong Crisis? Wrong Problem? Wrong Solution?...............................from Rico

The "financial crisis" was sold to the suckers as a LIQUIDITY problem, when in fact it was a "banking crisis" and a SOLVENCY problem.

- Liquidity is the temporary inabilty to repay debt.

- Solvency is the complete inability to repay debt.


The FED's QEternity is all about giving the insolvent TBTF banks more access to debt.

- With a debt-based currency and a debt-based economy, that is really all a Keynesian can do...until mathematics makes it impossible to continue.