All Posts Tagged With: "bailout"
Peter to Pay Paul
I do not normally read poetry. Generally I do not go in for over the top sentiment. However, the current environment and the government’s reaction to it reminds me of the Rudyard Kipling poem “If.” It seems to me that the international leaders, the markets investors, and pretty much everyone else should read this poem and remember what it is to be a grown up?
Is this a crisis? You betcha. But as is generally the case it is looking more and more like the cure will be more deadly than the disease.
Yesterday’s Follies
Nobody likes the guy who predicts calamity, especially when he turns out to be right. Beginning in 2004, I began to predict that the stock market was overvalued and was set up for a sizable fall. I said there was too much debt amongst consumers. Read more…