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Govt. Wasting Time & Money: "Deleveraging Is a Freight Train," Boockvar Says
It's a familiar refrain of the skeptics: You can't cure a debt crisis with more debt. "The government's attempts to ‘help' are actually prolonging the inevitable deleveraging this economy has to go through," says Peter Boockvar, equity strategist at Milller Tabak. "Deleveraging is a freight train and anything the government does to try to slow that down pushes out the inevitable recovery.Boockvar cites three "successful" programs as examples of what he calls the government's wrongheaded approach: ... Boockvar's solution to what ails America's economy is simple in theory but highly complex to accomplish, and runs counter to the prevailing winds in Washington: "We have to start making things the rest of the world wants, incentivize businesses to make things here...and recalibrate so we're less dependent on consumer spending to [where we're] saving more, investing more and making things," he says. Posted by: ed 2009-08-04 |
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