Winters Sees Stocks at Record on ‘Enormous’ Government Stimulus


Image by doneastwest
Page 2 of 2.
Oct. 2, early morning; Oct 3, 2008.
The other side- in support of the Trillion:
1:00 am, thursday morning of oct. 2-
Just saw Charlie Rose talk to Warren Buffett for an hour. He supports Obama and he is for the trillion. He kept saying the details can come later (maybe the stuff in my page 1 notes are the details) but the (very robust) patient is sick right now and you have to save life first.
He did criticize the golden parachutes and the low tax rates for the rich but I think those were details for him at the moment. He thought it likely that we can get the money back because we are buying assets at very low prices- what he called ‘market’. (This part puzzles me. Other people- including the Oct. 3, 6:00 PM, PT, letter from Senator Boxer’s office- called these "toxic assets". Who cares that they are cheap? )
Buffett said if we act soon, the repercussions will last six months; if we waste time it can take five years. He kept falling back on his faith in a messy but very strong system. His example was a seven-to-one improvement in the standard of living in the 20th century, even with all of the troubles and wars.
Now, we could argue with him that our ‘standard of living’ is a stress nightmare; that the consumer society is unsustainable. Rose didn’t get into that.

Still Oct. 3- I ran into a friend with a small business.* When she heard me talking about the stuff on page 1, she said, "You wouldn’t say that if you were in my shoes."
She has good relations with the local banks. Two weeks ago ( around Sept. 20th ) they told her, … " WE ARE NOT LENDING." She added, " They don’t know what to do."
Obama and Buffett are for the trillion. My friend says that Bill Clinton is, too.
Even Robert Johnson, when asked this morning (Oct. 3) by Amy Goodman if he would have voted for the bill, swallowed uncomfortably and said yes.

Bruce Marks and Kucinich maintain that this is just the wrong thing to do: that the relief and money can come from other sources.
Naomi Klein sees this as another example of " disaster capitalism " : the inducement of fear at the "last moment", in order to profit from, and control, the population.**
On Oct. 10, Bill Moyers speaks with George Soros on this:
Stacey told me about "Money As Debt" on YouTube:

Source page for bull photo:
Thanks to David Bruce ( Flickr member, "d4vidbruce" ) for allowing CC access to his photo.

See another page like this:

* – she says, a small business is up to the 50 million dollar level; their business is on the 10 million level.
** – Naomi Klein: "The Shock Doctrine: The Rise of Disaster Capitalism

Winters Sees Stocks at Record on ‘Enormous’ Government Stimulus
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