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Hugh Henry "I Would Recommend You Panic"

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May 27, 2010 – Comments (7)

www.zerohedge.com breaks the story.

"BBC Newsnight held another great financial round table discussion (why do these occur only in Canada and across the Atlantic? Is it so difficult to have 20 minutes of commercial free debate here in the US where people can actually tell the truth?) which brought together Hugh Hdenry, Gillian Tett and Jeffrey Sachs. As usual, Hendry takes it odd with a bang: "I would recommend you panic. The European banking system is in a crisis." He continues: "Let's purge this system of its rottenness. Let's take on a recession. It's going to be tough, people are gonna lose their jobs. They are going to lose their jobs anyway. We can spread this over 20 years, or we can get rid of it over 3 years." Of course, the Columbia professor, is completely against purging the system: how else can US higher "educators" continue to indoctrinate generation after generation with the flawed principles of a bankrupt ideology, and continue getting getting paid handsomely if there is an global reset? Even funnier, Jeffrey Sachs loses it when Hendry calls him out on his BS at 5 minutes into the clip. The ensuing smackdown is worth the price of admission alone."

http://www.youtube.com/watch?v=nuysYXlJ43I&feature=player_embedded#at=39

http://www.zerohedge.com/article/hugh-hendry-i-would-recommend-you-panic

 

7 Comments – Post Your Own

#1) On May 28, 2010 at 12:25 AM, ChrisGraley (29.65) wrote:

After watching this clip, I have to apologize to porty, because I've singled out Hugh Hendry as a nut-job in the past.

Hugh understands the problem, but he's counting on politicians to understand the problem enough to  pick the right answer over political gain.

He's right when he says that it's better to solve the Greek problem over 3 years than over 20 years and the same reasoning applies to a lot of other countries. (See Brazil)

The problem is that leaders that make hard choices don't get votes. 

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#2) On May 28, 2010 at 8:48 AM, russiangambit (29.12) wrote:

> Hugh understands the problem, but he's counting on politicians to understand the problem enough to  pick the right answer over political gain.

I like Hugh. but he is way too logical for a market player. He needs to forget logic and just go with the flow. It seems this is what people have been doing lately. Otherwise youa re runnign high risk of being trumpled over.

I mean, really, he expects people to do the right thing ? Not just people, but politicians and members of establishment. When did that happen last time?

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#3) On May 28, 2010 at 9:05 AM, catoismymotor (51.71) wrote:

Very interesting. It is hard to think of the last time I agreed with a talking head on TV, Chris and Russian at the same time. :)

 

 

 

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#4) On May 28, 2010 at 9:43 AM, abitare (31.77) wrote:

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#5) On May 28, 2010 at 9:48 AM, chimpcontest (< 20) wrote:

I'm not sure if you travel overseas, but when I used to work in Europe for a short tour I found their news coverage more global than US-centric.  You would see all these news stories about Africa or Asia and say "WTF, I didn't know this was going on" 

I also noticed that it had more of a pro-palestine bent vs. the pro-israel bent here.

This was back before I got into homebuilding around 2000....  I am guessing that it is the same today.

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#6) On May 28, 2010 at 10:20 AM, russiangambit (29.12) wrote:

> I'm not sure if you travel overseas, but when I used to work in Europe for a short tour I found their news coverage more global than US-centric.  You would see all these news stories about Africa or Asia and say "WTF, I didn't know this was going on" 

Yes, exactly. I miss that. I have to read russian and UK news so that I have at least a notion of what is going on around the world.

US news is always so dumbed down. I rarely watch it. Plus, in US they would pick 1-2 sensational topics on are on them for weeks on end like nothing else is happening in the rest of the world all this time,

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#7) On May 28, 2010 at 10:46 AM, EnigmaDude (93.40) wrote:

Wow - he is a nut job!  I see why you like him...

The only reasonable one of the bunch is Jeff Sachs.  But please, go ahead and panic.  That should help create more bargains for me to add to my portfolio.

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