Originally Posted By Mr X Just want to mention something here...I do HOPE that things recover. I really do. I'm just not of a mind that it's good to be optimistic just for the sake of being optimistic. There are still major problems with the system that need to be addressed. For one thing, I'd like to see a heck of a lot more transparency from these institutions as I've mentioned before. The sad reality is that will probably bankrupt some of them. But if they're that unhealthy, they'll be gone at some point anyway. The only question is whether we deal with it now or have more pain in the future.
Originally Posted By hopemax > It won't be easy, but as we move away from the extreme credit based society we have become we will all be better off in the end. < On this we agree. However, this requires deleveraging. What happened the last 2 weeks was an example of what happens when we deleverage too fast. Problem, as a society, we have a lot of deleveraging still to do. It is basically like treating cancer. Boatloads of optimism that we will come out happy and healthy. But the treatment royally sucks. And somehow "it will work out in the end," isn't very satisfying when you are in the middle of it.
Originally Posted By RoadTrip If you've listened to Garrison Keillor you know that we Minnesotan's prefer to suffer a little to earn our pleasure.
