Saturday, July 5, 2008

Time to hide the valuables under the mattress and buy a shotgun

Dana Milbank of the Washington Post asked Phillip Swagel (US Assistant Treasury Secretary) whether it is time to "hide the valuables under the mattress and buy a shotgun". And Swagel did not hit it out of the park.*

At the same time we have the CEOs of major banks saying that they are profitable despite the headwinds.

With due respect - there is plenty of work in Washington for out-of-work CEOs good at spinning BS. Your country needs you.

The full video is here and is worth a watch. (Hat tip to the Big Picture.)

Memo to Phillip Swagel: practice saying the fundamental strengths of the United States are undiminished... even if you don't believe it. Its not good for someone in your position to talk down anything...

*My original wording was "Swagel does not hit it for six". But then I am Australian and therefore a cricket fan.

1 comment:

Scott said...

Just discovered your excellent blog. I think that Milbank's question meets the definition of a "loaded" question(no pun intended). I think it would be irresponsible for any government official to answer a question posed per your quote. The best response would have been, "Next question!"

While I personally happen to own a shotgun, the reporter's question implied that the country is near a state of total social breakdown. That is clearly not the case.

General disclaimer

The content contained in this blog represents the opinions of Mr. Hempton. Mr. Hempton may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Hempton's recommendations. The commentary in this blog in no way constitutes a solicitation of business or investment advice. In fact, it should not be relied upon in making investment decisions, ever. It is intended solely for the entertainment of the reader, and the author.  In particular this blog is not directed for investment purposes at US Persons.