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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: zamboz who wrote (101730)2/28/2009 10:05:45 AM
From: studdog11 Recommendations  Read Replies (4) of 110194
 
We have a president who can actually process information. Nice change. The prevailing view on these threads is that Obama is clueless and everything he has done is "more of the same", making it worse, or just plain stupid. That interview shows that he does have some understanding of where we are and how we got here. I wish he would talk more about our unsustainable degree of private debt. I suspect he knows this but can't really talk it up because, in the short run, to keep the battleship going with enough steerage to miss the reef, there will have to be more borrowing .

I believe many people feel in their bones there has to be radical change in how we live and do business. I see two options, One, we can let the battleship hit the reef and rebuild from scratch (the neo-Austrian approach) or we can keep the ship going enough to avoid the reef while we refit the ship with a new, (and different) engine. He has clearly chosen the latter option.

His plans are certainly debatable, but he is not stupid. I think he has made rational choices and has a coherent plan. It might not work. We had better hope it does. (anyone here ever literally hit a reef (and hard)? Well it sucks)
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