this is where the shit hits the fan, where the pedal hits the metal and where the rubber hits the road.
Wednesday, October 21, 2009
bailout
Assume that there are $1000 (both credit + cash) in a system. If you bail out someone with $500, the result being $1500. So, $500/$1000 = 50 percent depreciation. In other words, 50 percent is stolen from all those who saved, etc.
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