Quote Originally Posted by metalman View Post
i'd like ej to interview rogers again. sounds like they agree on the duration of deleveraging dollar rally but they have a difference on opinion on the bailouts. rogers is a dreamer... i don't trust my money to dreamers. i'm into realism and 'let it fail' ain't realistic. one lehman crash is wrecking the economy. why will 5 lehman sized crashes be better? 'the fed should not have let aig become a systemic risk' oh, ok. well, guess what... they did. that's a fact. like big boys and girls let's deal with it not pretend they didn't and respond with braindead solutions like 'let them fail'.
Jim often gets emotional and overstates his position, and also usually oversimplifies it. The talking heads usually just like to get him fired up by provoking him. We will never know what he really means, unless someone asks the right questions. For example, maybe he means let them fail in a systematic way, perhaps more like the Scandinavian model. In that case, they "survived", but in a MUCH altered form, and in a way that the insiders who were milking the system were not allowed to continue their practices, and as much as possible, were punished, and as much as possible, the system was reworked to serve the citizens of those countries. I think Jim's emotion (similar to Faber's in this case) stems from the fraudulent nature of the whole system, and the need to clean it out. I believe the system needs to "fail" in a systematic way and be rebuilt to cut out the corruption and restore some level of transparency and decency. I don't really see that happening, or if it is, its insufficient and happening in slow motion.

A skilled interviewer like EJ might be able to tease out some interesting ideas from Jim. Would love to see it happen!


An EJ interview would be great!