Gotta love these quotes by Bill Bonner in MoneyWeek:
How can Obama fix the economy? … He’s never even run a hotdog stand, so he’s not likely to figure it out.
But let’s keep going.
“The US election was fought on first principles: should government be strengthened or dismantled?”
What? “First principles?” What does that mean? As for “strengthening” the government, who would oppose it? But what does it mean? Is a government strong when it spends more money or less? Will it be strengthened by going further into debt? Or by cutting back on spending and paying down debt?
Apparently, these questions never cross Mr Sachs’ mind. He thinks the feds should spend more money. How much? The sky’s the limit!
There’s other good stuff in it, too.