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Thursday, March 12, 2009
Deep Thoughts From Byron Wien
Optimistic visions from the Pequot man.
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5 comments:
Whats with strategists perfectly articulating the situation we are in and then advocating buying equities? must be some sort of cognative bias.
This letter was a joke? Right?
I'm an optimist, a very BIG optimist. But this letter swings from side to side on expectations. He offsets the massive debt problems we're unwinding, and the incipient addition to these problems with the "stimulus" plan, with an apology for the president. "Well, he PROMISED this stuff." OK, so that's one promise he upheld out of the 30 others he forgot.
Regardless of the politics, he doesn't admit - as he should - that the stimulus package isn't designed to FIX THINGS IMMEDIATELY. We all know that. But the fear is that whatever effect it will have is offset by the damage it does to world capital and debt markets - which is tremendous.
Marx is, indeed, smiling because his minions have infiltrated the US government.
lame. byron forgets to mention the recession and subsequent market crash in '37 which was largely due to over-reaching policies of a marxist president (FDR). the current stimulus ("porkulus") spending is going to do more harm longer-term than good. i agree with mellon, lets take the pain upfront and then rebuild...all the while keeping the system in place...lets not forget it is the system that has created the most prosperous society in history.
recession in 37 was when FDR tried to balance the budget listening to budget hawks... Massive stimulus of WW2 did the job...
By the way, it is funny that the Obama administration which is bending over backwards to not nationalize the banks, is being accused of marxist.
dude, FDR had no budget hawks on his staff. they were all idealistic stalin wannabes that spent like drunken sailors (WPA, TVA, RA just to name a few). their single MO was destroying business and capital formation.
BHO is attacking business and capital formation with the same populist vitriol we saw 75yrs ago.
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