absolutideas

written by Paul Kedrosky:
A typically incisive and interesting bit of commentary from Frank Veneroso on the incurable current optimism of investors in U.S. markets:
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What we need to do? debt restructuring of major banks. No mercy for shareholders and also bondholers.
In order to pay down debt you must PRODUCE MORE THAN YOU CONSUME.
“It has been described as socialism, fascism or communism.  In various contexts, all are true, but let’s refine it.  From loans to the automakers to the bailouts for [...]