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Of course they're talking about liquidity and not solvency.  Illiquidity means you just have to pump more something-or-other into the system to fix it, and "more" is what the US is all about: more cars, more houses, more cowbell.  Insolvency means there isn't enough to go around and that you'll have to make do with less (and that someone else will have to do the pumping, but I don't want to go there right now).  The US is now on its third generation that has never really had to do with less, and it's a good question whether we even have the capacity to grasp the concept.

by rifek on Sun Sep 28th, 2008 at 01:55:01 PM EST

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