Sharma Family Journal

People have been writing all kinds of stuff about the big stories of 2009. Even though this article in nytimes doesn’t say so, I think this is probably the biggest story of 2009. Along with that, the ability of the US govt to prevent the flight of capital (or the illiusion of it) is quite remarkable.

“What the average citizen doesn’t explicitly understand is that a significant part of the government’s plan to repair the financial system and the economy is to pay savers nothing and allow damaged financial institutions to earn a nice, guaranteed spread,” said William H. Gross, co-chief investment officer of the Pacific Investment Management Company, or Pimco. “It’s capitalism, I guess, but it’s not to be applauded.”