hanson001

Wall Street Breakfast: Must-Know News

The economy is already destroyed and the factors of production must be allowed to move towards their natural equilibriums. What we are doing now will prolong the pain as we muddle through as the goverment moves the most certain cliff a little each time we near it. We desire to hold on to what we have lost but this will hurt the generations that come after us. If we don't realize this, we are no different from the politicians and institutions that got us into this mess.

The patient is already dead in his coma like state. All I ask is that you unplug the machine to save electrons. We are going to need them later.

Wall Street Breakfast: Must-Know News

I watch very closely as Obama makes his public rounds. The way a great deal of people react to his presence reeks of idol worship. I mean, please, all the screaming and crying. All we need now is 150 days of games and free bread tossed into the stands.

The government needs to keep its dirty hands out of the markets. The moral hazard all this activity is creating will destroy us. Everyone is trying to save this economy, eventhough many saw years ago this day would come. All this tampering, trying to get back to the way things were, keeps the markets confused and introduces too many new variables in an already complex global economy.

Let nature take its course. We will probably have to nationalize the banks for a time to be able to wipe out all stakeholders (including me) and the dirty rotten CEOs and managers who after studying risk in business school, allowed the institutions to be run like some kind of gambling house.

Pain is good. It teaches one some important lessons. And letting businesses and consumers go bankrupt will allow dollars to go to more capable hands to eventually re-employ the idiots that got us into this mess, that is, the greedy business and consumer that leveraged too much.

Get ready for your lost decade friends.