Cristopher Joye 20 January 2010 On Line Opinion

Thanks Sir for the time you have given to the problem of the American ‘subprime mortgage default’.

It took me tree days of pondering on your scheme for exiting what may be called the greatest economic catastrophe since ‘the world great depression’.

Depression that happened when I was five years old and in my memory remains associated with the place in which I lived, the body of my father laying on a bed and the tears on my mother’s cheeks.

Sir, suppose that a housewife greets her husband coming from work with a smile larger than her face and a sumptuous meal on the table and suppose that this unusual behavior intends to conceal the fact that she has emptied the credit in the joint bank-card, in the fantastic dream of doing away with the strictures of her life, and suppose that she has wasted all that money on frivolities, what is left to them to do?

The dream that soon they could own a house, if is not gone forever needs a greater and a longer sacrifice or resignation to rent an unspecified place.

Sir, how can one forget Margaret Thatcher, Ronald Reagan, George Bush and for that matter, our John Howard and their frivolity, their irresponsibility, their domineering?

Who can’t see that American Presidents cannot be but limp? To be elected they need sympathizers plus powerful backers who can give millions.

The title ‘President’ is hence interchangeable with political ‘Debtor’; debtor who has to repay backers. And backers are Bankers and associated Corporations, the opposite to ordinary sympathizers.

Sir, I, we, the people of no privilege, would wish that your scheme could replenish our bank-card credit; but I very much doubt it can.

Paul Davidson

'The Keynes solution - The path to global economic prosperity'

ISBN 978-0-230-0-619200-3 reached Australia three days ago.

It preachs Kynes-ism again.

There must be something wrong with the owen that bake Economists.