Let the competent people take over from the incompetent people. Instead, Jim Rogers poinst out, we’re doing the opposite.
It all started with the moral hazard from Long Term Capital Management bailout.
How many “bad” years will we have?
I find myself more optimistic than Jim, but unable to back that up with logic. I certainly endorse his thinking regarding letting banks and businesses fail. I would like to say that my belief in the human spirit is more optimistic than his, and it probably is, but he’s seen a lot more human spirit than I. Also, my faith in the US Government finds itself at an all time low.
It would be great if the Obama stimulus package works, and I believe it will give one heckuva a head fake towards working but as Bill Fleckenstein says in his recent writing over at MSN money, “Prosperity is not printable“.
