Barton Biggs Supports Endless Bank Bailouts: "We Need A $400 Billion Euro TARP, I'm Not An Advocate Of Hegel's Creative Destruction"

Sep 23, 2011 at 9:32 AM
DailyBail in Euro Crisis, Europe, barton biggs, euro TARP, euro currency, stock market, stock market, video

Video - Morgan Stanley's Barton Biggs said the following yesterday on Bloomberg:

• "We're on the eve of a new financial crisis."
• "Nowhere is safe to invest."
• "I wish I were not in the markets."
• "I want to see an important stimulus program in the United States, combined with major reform in social security, Medicare and our defense budget.  If we did that, we could have a 20 percent rally."

Start watching at the 3:30 mark for comments on Euro TARP and Hegel.

Though he's likely correct this time (what do they say about broken clocks?), keep in mind as you listen that Biggs was strongly bullish a month ago when the S&P was 10% higher.  I've been watching this clown for 23 years and he's been more consistently wrong than any other strategist.  What happened to the Wall Street retirement requirement for being a decades-long dumbass?

Article originally appeared on The Daily Bail (http://dailybail.com/).