13 Dec 2010

Slick Willie Reads Bob Higgs, But Not Rothbard

Financial Economics No Comments

John C. alerted me to this… Check out the video of Clinton when Obama passed him the baton at the press conference. Start watching it at the question asked at 11:00. I let Clinton go until about 15:30. If you’re interested enough to do the same, you’ll see:

(A) Clinton understands full well “regime uncertainty.”

(B) Clinton understands full well how fractional reserve banking works, and he likes what he sees.

Also, if you let the tape keep rolling, you’ll see that Clinton has his eyes on the cash reserves of major corporations. I have heard analysts refer to that at least 3 times in the past few days. If I were a major U.S. corporation sitting on $10 billion in cash, right now I’d feel like a guy with a Giant Slim Jim amidst a group of starving shipwrecked sailors.

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