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Hi Bob,

Thanks for responding.

Slow day and we want to get the members juiced :-)Thanks for the "food" for thought.

Yeah, we tried, but didn't get the critical mass to move the needle.

But where does “good” debt come from?

To tack on your own response: I agree; all good debt is debt where the money borrowed will deployed to generate a risk adjusted return greater than the cost of borrowing. Anything else is destroying value.

If we don’t fix the debt crisis everything else is a moot point...All the above poses some hard questions with very few good answers, but this last point is the one which will over ride all others.

Yup, that is the crux of it isn't it? Frankly, I'm not sure anyone has solved this puzzle on the scale we're dealing with. In a perfect world, we'd reduce the level of debt while increasing our ability (GDP) to service the debt. Unfortunately we've been provided with two options that have been tried before and neither has worked well...(yet?).

Best,
Nick
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