Though Martin Wolf has doubts, I am absolutely 100 percent certain!

Sir, Martin Wolf asks “who can confidently state that it must be better to rely on relaunching a private credit boom than on higher public investments? “Britain and America seek different paths from disaster” October 20.

Well I can with total confidence state that it is much better to rely on relaunching a private credit boom than to rely on higher public investments. That is, of course, as long as that private credit boom is free to grow according to what the market indicates and does not have to grow according to where the bank regulators want it to grow with their discriminatory risk-weights and capital requirements for banks... and which precisely caused bank credit to finance overpriced housing while making it much more difficult and onerous for the productive agents of the markets, the small businesses and entrepreneurs to access bank credit.

Let me also assure Mr. Wolf that to keep on financing public investments with bank credits for which there are zero capital requirements, will only increase the slope and the slippery of that slippery regulatory slope where regulators have placed us. And I have absolutely no doubts about that either!