Ron Insana and Julian Robertson, Again
Once again I’m seeing a lot of interest in the interview of Julian Robertson and Ron Insana. I posted about the lies that were told about the interview in Ron Insana/Julian Robertson vs Al Martin/Julian Robertson.
Let me repeat. The things attributed to Julian Robertson and utter collapse are not true.
Robertson said he was more disturbed than at any time in his life. He said the American consumer is out of gas and involved in the housing bubble that puts his dwelling at risk. He doesn’t see any way out, when dollar weakens. He expects the Fed to inflate way out of the problem. It’s possible we could have a soft landing like in Japan, where their market went from 40,000 to 7,000. There was no hard landing in Japan. That is about all he said. Any other comments about the economy were not in the interview!
PS: Kenlet has a great post about what happens when a housing bubble bursts and he correctly capsules the Robertson interview!
Update:
Thanks for your comment on my blog about this story. I’ll have to do some more researching on it, but this really enlightened me.