Included in a long list of ideas of what to do with $700B to bail out the economy, one of the more amusing ones came from Marc Faber quoting his friend in this interview:
I will comment on this whole situation soon – I need to head to NYC tonight but will be back tomorrow. For now, I will make sure you get some food for thought from people whose insight is among the best in the world.
P.S. Obama’s speech today concerning this, and the cheers from the audience, only confirmed how naive and uninformed the average person is. I will take some of the blame, first because no one else would accept blame, second, because as a finance professional, I should spend more time educating school kids on this stuff (I have done this in the past).
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