Friday, May 3, 2013

Seth Klarman: "If The Economy Is So Fragile That Government Can't Allow Failure Then We Are Indeed Close To Collapse"

Is it possible that the average citizen understands our country's fiscal situation better than many of our politicians or prominent economists?

[…]

And when you tell the populace that we can all enjoy a free lunch of extremely low interest rates, massive Fed purchases of mounting treasury issuance, trillions of dollars of expansion in the Fed's balance sheet, and huge deficits far into the future, they are highly skeptical not because they know precisely what will happen but because they are sure that no one else--even, or perhaps especially, the policymakers—does either.

http://www.zerohedge.com/news/2013-05-03/seth-klarman-if-economy-so-fragile-government-cant-allow-failure-then-we-are-indeed-

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