Friday, February 6, 2009

No Clue

I am reading the news from major papers and I can't help but to realize that politicians, central bankers, and analysts simply do not have a clue about what is going on.  While Governments are spending future generations' money to put plasters on ever growing wounds, nobody is focussing on trying to "inject antibiotics" to help solve the problem.

Central Governments may buy troubled assets from overpaid asset managers, but in the meantime, the taxpayers (who are bailing out the fat cats) are seeing their credit scores plunge.  So, even if we start seeing lights at the end of the tunnel down the road, individuals may not be capable to get access to the credit market anyways... so they will have limited expectation to eventually get back in the game and start spending again.

Is in it time to wake up and start looking at the big picture?

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