Pepe says: the tension between fcp alarmism and its failure to materialize is amazing. OK, let's try to remedy that, and present a more hopeful story for a change, to humor Pepe:
Politics is not everything, but I believe that the shrinking probability of a new government insurance plan that would lead to nationalized health care -- along with the demise of cap-and-trade that would nationalize energy -- is very bullish for stocks. ... His whole garbled, inconsistent, and baffling defense of health care looked real bad. The president’s polls have been falling, especially on his policies. And markets see the possibility that free-market capitalism will live to see another day.
Saturday, July 25, 2009
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