Tuesday, September 30, 2008

"The US will continue to be the world's largest economy for a while longer, but it will be the new rising powers that, once the crisis is over, buy up what remains intact in the wreckage of America's financial system."

Couldnt have said it better myself. Note - the fed has gone ahead and decided to burn through $650b without congressional approval, without the lockdowns on executive pay, and without the oversight and rule changes that were in the bailout proposal. So I guess now we're really relying on the goodness of men to get us through this... good luck and god speed.

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