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Monday, August 03, 2009

What's the cure for too much credit? More credit?

Stimulus will not produce genuine prosperity. You can’t cure a credit-caused crisis by offering more credit; it just won’t work. But rather than let the system correct itself, the feds are determined to ‘do something!’ What can they do? They can only destroy the dollar – or try to – thereby destroying the value of China’s $1.5 trillion treasure.
>-- from "Showdown With the Bond Vigilantes" by Bill Bonner

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