Jim Rogers tells G7 leaders to go to the bar, have a beer, and leave the rest of us alone.
That dude is good. My girlfriend works at a hedge fund here in Boston and reads all his books.
Can any government stop a depression? History says ‘no’. I suspect that no one can stop this one.
"Roubini Urges 1.5 Point Rate Cut to Avert Disaster (Update1)
By Kevin Hamlin
Oct. 10 (Bloomberg) – Nouriel Roubini, the professor who two years ago predicted the financial crisis, said world financial officials should orchestrate interest-rate cuts of at least 1.5 percentage points to help avert a depression.
A temporary guarantee of all bank deposits, unlimited liquidity for solvent financial institutions and fiscal-stimulus measures are also needed, the New York University professor of economics said in a commentary e-mailed today to Roubini Global Economics subscribers.
``It will take a significant change in leadership of economic policy and very radical, coordinated policy actions among all advanced and emerging-market economies to avoid this economic and financial disaster,‘’ said Roubini, 50. From late 2006, he highlighted the dangers flowing from a likely U.S. housing crisis.
The economist urged immediate action as officials from the International Monetary Fund, World Bank and Group of Seven nations meet in Washington this weekend."
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aZkUTVSfXcnE
Politicians got to where they are because they were able to convince idiots to vote them into power, not because they (the politicians) are smart or able to accomplish something like Roubini says: ‘radical, coordinated policy action’ ??? LOL! These people couldn’t run a popscicle stand.
[quote]Headhunter wrote:
These people couldn’t run a popscicle stand. [/quote]
Why not? The majority of them are Ivy League educated lawyers and MBA’s. The ruling class is always composed of the best and brightest that a nation has to offer. Running for public office is a huge undertaking.
[quote]Nominal Prospect wrote:
Headhunter wrote:
These people couldn’t run a popscicle stand.
Why not? The majority of them are Ivy League educated lawyers and MBA’s. The ruling class is always composed of the best and brightest that a nation has to offer. Running for public office is a huge undertaking. [/quote]
You mean like President Bush? Of course, ‘no one man IS Caesar’, so that means that the elite of whom Bush is the public face, are a bunch of fuck ups.
Mao Tse Tung was put into power by an elite and he killed them all (or most of them). All the while, millions died. Same for Stalin, Napoleon, Hitler, Churchill…they’re all vermin. Elite groups are just plain fuck ups.
Now, of course, if the goal is to acquire power by making the people miserable, then yeah, they’re successful that way. I guess…
[quote]Nominal Prospect wrote:
The ruling class is always composed of the best and brightest that a nation has to offer.[/quote]
Why do you assume they are necessarily the brightest?
How does the brightest person in the world control the chaotic machinations of individual attitude?