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The Economy Is Still at the Brink

By Implode-Explode Heavy Industries

``Mr. Obama thinks that the way to revive the economy is to restore confidence in it. If the mood is right, the capital will flow. But this belief is dangerously misguided. We are sympathetic to the extraordinary challenge the president faces, but if we?ve learned anything at all two years into the worst financial crisis of our lifetimes, it is that a capital-markets system this dependent on public confidence is a shockingly inadequate foundation upon which to rest our economy.''

Full post as published by Mortgage Lender Implode-o-Meter on June 08, 2009 (boomark / email).