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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Mary Cluney who wrote (128804)	1/20/2010 11:51:38 AM
From: Steve Lokness	Read Replies (1) \| Respond to of 541986

To do nothing and rely on the magic of some invisible hand is unthinkable. It is loony. Buffet was on CNBC this morning and he said that America should not expect a fast fix. He explained that America had built in excesses and that we will need time - lots of time for America to deleverage. He went on to explain that people with the right qualifications are getting all the bank lending they need - but that it is insane to suggest people who don't have the means should get lending as before the crash. As to your example of the train crash; I would suggest that the fear that people had after the crash is a better analogy. You can throw as much money at fear as you want but it doesn't fix that problem. Time and only time is needed for the fix. same with our economy. If you push money out of helicopters you can recklessly push the economy but you do so by leaving in the excesses that Buffet says we need to unwind.