“Our aim should not be more government, It should be smarter government.”, said President Bush to world leaders. But is Obama's current push on the bailout of the Detroit 3 a smart move? If the Detroit 3 get exactly what they want, other industries will line-up in the front of Obama's White House for the next round of freelunch for their executives. The government can do a lot of things to help the auto-workers in trouble but bailing out the 3 falling companies as they want it will only reward stupidity, miopic business visions and encourage laziness.
Magnus: China Must Reform or Bust - China's debt markets are looking more and more like the West, circa 2007. And it's not clear the government can intervene as successfully.
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