Stop referring to financial liabilities as 'toxic assets.' They aren't toxic, they're simply acquired inventory improperly valued. Equity markets are now valuing assets at a 'free market' price. I shouldn't have to pay for Citibank's profit shortfall.-- M. Salvatini, responding to "A Republican Road to Economic Recovery."
The Obama Economy
As the Dow keeps dropping, the President is running out of people to blame.The Democrats who now run Washington don't want to hear this, because they benefit from blaming all bad economic news on President Bush. And Mr. Obama has inherited an unusual recession deepened by credit problems, both of which will take time to climb out of. But it's also true that the economy has fallen far enough, and long enough, that much of the excess that led to recession is being worked off. Already 15 months old, the current recession will soon match the average length -- and average job loss -- of the last three postwar downturns. What goes down will come up -- unless destructive policies interfere with the sources of potential recovery. READ WALL STREET JOURNAL
