With all that goes on, what worries you most?
- Galbraith: People don’t know, and some people don’t know they don’t know. That’s me and most everyone else. Very worrisome. Federal Reserve in the US is worried about banks. They are at odds. One governor said it wasn’t enough to (create billions) Another said it’s irresponsible. Fed in US and Canada is very worried. That’s’ why goofy comments about stop people buying houses…They also don’t know what they don’t know. Seems to me, that policy makers say something in public yet admit to be very worried privately.
- In essence though we have to have – if grudgingly – some admiration for government action in a difficult new environment. Easy for us to criticize. But what exactly is/was and will be the right decision we can bemoan but they are in the crosshairs…hopefully doing the best they can…
- That means to me, we muddled thru in the past (1,100 banks close in USA in 89/90) and we will muddle through this time…Look at my “age cash “position, stay attentive and jump on the deal of the lifetime when it comes.