Check out this article on Barrons online website. It is an in-depth interview with the head of a major money-management firm and his take on how best to get our economy righted again.
While much of the specifics go over my head at times he seems to offer a balanced solution that requires some hard choices on the part of our national government, major players in the financial industry, and individuals. I think this broad-brush analysis—that the solution lies with all the actors who got us into this problem—is what I find most appealing about the article. Plus, I find appealing the lack of any overt political posturing on the part of the interviewer or interviewee in regards to assigning blame for our financial problems.
If I were to attempt to summarise the main points of the money-manager’s argument, it would be that our ridiculous debt levels (in the government, corporate, and personal realms) need to be reduced. He argues that some of that reduction will occur through debt write-offs, some of it will occur through debt-restructuring, and some of it will occur through debt absorption by the federal government. One thing I really like about his arguments and suggestions is that he expects both the personal and corporate realms to suffer major losses as a result of reducing our collective national debt. So many commentators focus on just corporate debt (“the companies should pay”) or just personal debt (“individuals need to learn a lesson”) it is refreshing to hear someone argue that holders of debt in both sectors of the economy will need to suffer to affect a holistic, reasonable solution to the problem.
The problem now is to get the powers that be in government, and business to recognise some of these solutions and have the social and political willpower to implement them.
An Interesting, Thoughtful Analysis Of Our Current Economic Crisis
Check out this article on Barrons online website. It is an in-depth interview with the head of a major money-management firm and his take on how best to get our economy righted again.
While much of the specifics go over my head at times he seems to offer a balanced solution that requires some hard choices on the part of our national government, major players in the financial industry, and individuals. I think this broad-brush analysis—that the solution lies with all the actors who got us into this problem—is what I find most appealing about the article. Plus, I find appealing the lack of any overt political posturing on the part of the interviewer or interviewee in regards to assigning blame for our financial problems.
If I were to attempt to summarise the main points of the money-manager’s argument, it would be that our ridiculous debt levels (in the government, corporate, and personal realms) need to be reduced. He argues that some of that reduction will occur through debt write-offs, some of it will occur through debt-restructuring, and some of it will occur through debt absorption by the federal government. One thing I really like about his arguments and suggestions is that he expects both the personal and corporate realms to suffer major losses as a result of reducing our collective national debt. So many commentators focus on just corporate debt (“the companies should pay”) or just personal debt (“individuals need to learn a lesson”) it is refreshing to hear someone argue that holders of debt in both sectors of the economy will need to suffer to affect a holistic, reasonable solution to the problem.
The problem now is to get the powers that be in government, and business to recognise some of these solutions and have the social and political willpower to implement them.