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kdakota630 (29.70)

Peter Schiff - Let’s Play Pretend!

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April 03, 2009 – Comments (2)

When elementary school kids want to escape the confines of their circumstances they pretend to be pirates, princesses, and Jedi knights. Now, with the relaxation of “mark to market” valuation rules announced yesterday by the accounting trade’s self-regulatory body, our bankrupt financial institutions can escape their own reality by pretending to be solvent. The unraveling of our fairytale economy over the last few months has not yet convinced us that the time has come to put away childish things. The applause that greeted the news yesterday on Wall Street is a clear sign that we still have some growing up to do.

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And don't miss Peter's video blog from yesterday.

2 Comments – Post Your Own

#1) On April 03, 2009 at 1:16 PM, binve (< 20) wrote:

kdakota, Yeah, I read this one too. It is a good one. And thanks for posting the Schiff videos BTW. I always watch whenever you post. Thanks man!

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#2) On April 03, 2009 at 1:17 PM, kdakota630 (29.70) wrote:

No problem, binve, and thanks.  I thought this was one of his better writings, too.

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