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‹ Saint Paul Newman • Bail Off ›
September 29, 2008 in Ideas, News | 2 comments
Eric Norlin points (via Howard Linzon) to this piece by Andy Kessler. Eric’s summary: Smile. Think abundance, not scarcity. Get optimistic. I’m an born optimist, so this has an appeal.
Mike Warot on September 29, 2008 at 9:37 am
We’ve got a Congress that has been stampeded into believing that 0.7 Trillion is going to be enough to buy out the 2.0 Trillion (as of last year, before it’s 100%+ growth rate) CDO market. We’ll blow through the money, and we’ll avoid having to deal directly with the “Toxic” debt (aka Ponzi schemes) for a few months… until after the Election… then we’ll be right back here… with that much less money in our hands, and no better off.
The end result of this will be to print money, LOTS of money… at least 0.7 Trillion to start, probably more like 10 Trillion before it’s all over… the dollar is worth about 5% of its 1913 Pre-Fed value now… when this is over it’ll be worth the cotton rag it’s printed on.
We’re f*cked, no matter how deep we put our heads in the sand.
Mike Warot on September 29, 2008 at 2:12 pm
I’m optimistic in a different sense… once we, the people, start making our voice heard, and actually talking about things instead of being treated like consumers, things will get much better.
Of course… you can’t have your head in the sand if you want to have a conversation. 😉
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