Rogers and Obama- Good Music with Bad..

Today, CNBC website has an interesting article titled "Jim Rogers: Let AIG Go Bankrupt, Not America." It is a good read. "Suppose AIG goes bankrupt, it is better that AIG goes bankrupt and we have a horrible two or three years than that the whole US goes bankrupt," Rogers said. "AIG has trillions of dollars of obligations, let them fail, let the courts sort it out and start over. Otherwise we'll never start over." He goes on to pour gasoline on the borrow-spend cycle and says that "The idea that you have too much debt, too much borrowing and too much consumption and you're going to solve that problem with more debt, more consumption and more borrowing? These people are nuts."
He is the director of two funds which are buying greenfield land in Brazil and existing farms in Canada and starting to farm it. The funds are clearing the land, fertilizing it, irrigating it and hiring farmers and, Rogers said, some day will probably sell the land but that is a remote prospect. I happen to agree with Jim Rogers.

AP reported that "Trying to pump up the nation's confidence, President Barack Obama said Tuesday that Wall Street has been hammered so hard that "buying stocks is a potentially good deal," and he dispatched top aides to Capitol Hill to defend his plans for pulling the economy out of its deep recession.".....Sounding ever more like an analyst, he said that "profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it."

Instead of focusing on the basics and talking about jobs and competing, BOB is out pushing the stock market. It is the market that has been one of the causes of the problem. BOB should not try to make things rosy by pushing exchange of paper. Let Wall Street manage itself. The politicians should be grounded in reality, and on earth.