Quote:
Originally Posted by Valiente
I can hear the printing presses in Canada...Our bank just printed about $20 billion of "liquidity" (aka inflation), which is about $300 billion proportional to the U.S. economy. Our leaders are saying our banks are "sound", yet I know my bank has a lot of these ABCP crap on its books.
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Quite so, Val. Europe as well. Very low interest rates world-wide, for perhaps too long, have contributed to a great deal of speculative borrowing and money lent to those incapable of repaying it at any rate.