Paolo Pellegrini of PSQR Capital has put together a presentation (via Market Folly) on just why the U.S. is in such a difficult fiscal position, and what the government can do to escape it.
The famed mortgage market short seller finds that blame does not lie solely with the Fed or the Presidency, but can instead be spread amongst the parties.
The solution points to a fundamental change in how we handle credit in the financial system.
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