That all sounds like common sense. So why are so few policy makers using their head? The people who hope the global economy can be revived through a resumption of credit growth seem to forget that it was massive credit growth that created the problem (massive global imbalances, huge debt levels, and mal-investments) in the first place.
July 23rd, 2009 | Dan Denning | 2 comments | Continued
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| All Ordinaries | 4325.800 | ||
| S&p/asx 200 | 4249.600 | ||
| China Shanghai Co | 2338.115 | ||
| Gold Sep 11 | 0.00 | ||
| Clj11.nym | 0.00 | ||
| Nikkei 225 | 9064.85 | ||
| Indu | 0.00 | ||
| S&P 500 | 1351.77 | ||
| Ftse 100 | 5905.70 |
