Reply #117: It's a debate

[techconomy]

Actually though, if Greenspan is consumer oriented as many believe, he will just let inflation rise. Every 1% the rate of inflation increases, it increases the effective amount we all owe to creditors. 70's like inflation if properly controlled for only a few years could significantly decrease the "real" amount most owe.

What is really being missed here is the massive amount of debt we ALL have, republicans, democrats, libetarians, blacks, whites, mexicans etc etc. It's 12k per person, up 50% since Clinton took office. Income has grown at a steady rate, but nowhere near that rate. It's inevitable that the straw breaks the camels back at some point. The events of September 2001 would have if it was not for the SBA making hundreds of millions available to small businesses. If they had not intervened IMO we would have had a total economic collapse in the fall of 2001. Most of the loans given out were fixed APR and were used to pay employees during the lean times.