Dec 8, 2010

Todd Harrision on the stimulus drug

I've also been too cautious in the past few months as I've waited for the other side of the storm to arrive. I'm quite certain the imbalances are cumulative still; the longer we take drugs that mask symptoms rather than medicine that cures the disease, the more profoundly painful the eventual comeuppance will be.


At the end of the day, we must ask ourselves an honest question: If the capital markets need an IV drip from the government to stay afloat — or if the financial industry remains one FASB 187 accounting change away from technical insolvency — how will that dormant toxicity and ever-expanding largesse manifest as we edge ahead?

~ Todd Harrison,"Conventional Wisdom: Financial Crisis is Over," MarketWatch, December 1, 2010

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