What Is It About Bankruptcy Reorganization They Don't Understand?

April 12 (LPAC)—IMF head Dominique Strauss-Kahn added his voice to that of the Bank for International Settlements (BIS), Fed Chair Bernanke, Peter Peterson, and others on April 10, when he told an economics conference in Cambridge, England, that the "advanced" economies are threatened by massive public debt, and that reversing the rise should be top priority. What this prescription boils down to, is a call for genocide, through budget austerity—a call which the Obama Administration has heartily endorsed as well.

If these so-called economists were competent, they could understand that there is a very simple alternative to killing people. It's called bankruptcy reorganization, and it would clear the decks of unpayable, and illegitimate, debt, setting the stage for embarking on the massive program of issuing state credit for major infrastructure projects needed by the physical economy.

 THE TRIPLE CURVE. WATCH THIS!