If the chosen solution to the fire is to pour oil onto it, surely we can expect an ever greater conflagration?
How can "consumer sentiment" recover if consumers are even more impoverished by inflation and a net transfer of resources to Oil producers?
How can the US recover if the escalating costs of Iraq are compounded by increased oil prices.
I don't see the basis for recovery in his analysis... "It's a mystery to me - the game commences, For the usual fee - plus expenses, Confidential information - it's in my diary..."
But I agree that he does not acknowledge that the recession from Japan had pretty much the same origins and was a real catastrophy. He does acknowledge it however in what he thinks the correct solutions are: no bail outs. Rien n'est gratuit en ce bas monde. Tout s'expie, le bien comme le mal, se paie tot ou tard. Le bien c'est beaucoup plus cher, forcement. Celine
