Oh Mr. President and Congress (El-Erian)

Market Ticker - Karl Denninger View original article March 11, 2010 06:03 AM Well now this is a rather interesting editorial: [INDENT] Today, we should all be paying attention to a new theme: the simultaneous and significant deterioration in the public finances of many advanced economies. At present this is being viewed primarily - and excessively - through the narrow prism of Greece. Down the road, it will be recognised for what it is: a significant regime shift in advanced economies with consequential and long-lasting effects. To stay ahead of the process, we should keep the following six points in mind. [/INDENT] El-Erian goes on to list six points that make most people's eyes glaze over.  Indeed, the entire editorial is one of those things that reminds one of Alan Greenspan and his famous "how to write 3,000 words and yet never find two people who agree on what you said." The final three paragraphs are worth reading though: [INDENT] This leads to the sixth and fin...