On Fri, Jun 4, 2010 at 12:19 PM, Judah McAuley <[email protected]> wrote:

> http://www.oregonlive.com/business/index.ssf/2010/06/blackrock_ceo_tells_oregon_mon.html

--
"We're at a moment of capitulation or of acceleration," Fink said. The
question is whether the European crisis "will change the momentum or
be a temporary pause."
--

In other words, we're going to be in limbo for years as the Europeans
try and solve the fundamental problems of the welfare state. The
President has been pushing the country in the very direction of the
welfare state model that underlies Europe's problems, and that scares
the crap out of the business community. Don't expect to see sustained
growth until his ambitions are scaled back or until Republicans take
over Congress in the Fall.

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