Listen to Your Own Advice
By Dyske February 14th, 2009
Martin Wolf (the British economist) says:
“If Mr Geithner or Lawrence Summers, head of the national economic council, were advising the US as a foreign country, they would point this out, brutally.”
“The correct advice remains the one the US gave the Japanese and others during the 1990s: admit reality, restructure banks and, above all, slay zombie institutions at once.”
This is my perspective exactly. The Americans are blind because their own pain (or fear of pain) is distorting their view of the reality.
