platinumdude
17th July 2010, 11:55 AM
http://www.businessinsider.com/hobbs-youre-just-peddling-the-power-of-nightmares-2010-7
CNBC's Simon Hobbs fought it out with Michael Pento today about the reality of the current economic situation in the U.S.
The fireworks start around 3:25, when Hobbs starts questioning the current generation of CEO's for misunderstanding our post crisis world. Pento argues that right now people aren't spending. Hobbs says that in Latin America and Asia, they are.
Pento then argues that consumers are going to be paying down debt for several years, and that the U.S. will be weak through that time period. The two then fight it out over the U.S. AAA rating and taxes.
At 6:00 minutes in, Hobbs says, "You're just peddling the power of nightmares," and "Wars are fought because of that sort of attitude."
Pento goes on to make points about how people need to take the threat of U.S. sovereign debt seriously.
http://www.youtube.com/watch?v=mfd8ZwMfG34&feature=player_embedded
CNBC's Simon Hobbs fought it out with Michael Pento today about the reality of the current economic situation in the U.S.
The fireworks start around 3:25, when Hobbs starts questioning the current generation of CEO's for misunderstanding our post crisis world. Pento argues that right now people aren't spending. Hobbs says that in Latin America and Asia, they are.
Pento then argues that consumers are going to be paying down debt for several years, and that the U.S. will be weak through that time period. The two then fight it out over the U.S. AAA rating and taxes.
At 6:00 minutes in, Hobbs says, "You're just peddling the power of nightmares," and "Wars are fought because of that sort of attitude."
Pento goes on to make points about how people need to take the threat of U.S. sovereign debt seriously.
http://www.youtube.com/watch?v=mfd8ZwMfG34&feature=player_embedded