I recently talked with a senior official of the IMF about the global credit crisis. He thought a global crisis required a global solution, but there is no “decider-in-chief.” The U.S. can no more solve the global credit crisis than Virginia can solve the American credit crisis. Interesting! By coincidence, the G-7 conference is this weekend, and may be the most important one in decades. There will be some serious horse-trading in the hallways. It might even be less dignified than passage of the “bailout/rescue” package approved by Congress . . . if that is possible.
The Flinchum FileThoughtful Economic Analysis and Existential Opinions
Subscribe to the Flinchum File
We are a fee-only advisor providing best interest fiduciary services to clients
in Chesapeake, Newport News, Norfolk, Suffolk, Virginia Beach, Williamsburg, and the surrounding areas of Hampton Roads.