Says Cubs owner Sam Zell, on CNBC’s Squawk Box this AM: “I think … we’re going to fix the credit markets by creating a big enough spread between the risk-free cost of capital and what’s available so that greed overtakes fear and the game begins again.”
Nevermind lost houses, oil headed for $4 a gallon, or massive gov’t bank bailouts in the tens of billions, Zell understands it’s Democrats making the economy suck out loud, not reality:
(Obama, pictured, sabotages an otherwise
“Obviously what we have going on is an attempt to create a self-fulfilling prophecy,” said Zell, chairman of Equity Investments Group and owner of the Chicago Cubs, Chicago Tribune, Los Angeles Times and other companies. “We have two Democratic candidates who are vying with each other to describe the economic situation worse.
“The reality is that if you live on Wall Street and you’re in the credit markets the world couldn’t be worse. If you’re a farmer and you’re getting $25 for your wheat, you’re having a great time. If you’re a CEO and you’ve got a balance sheet that’s bullet-proof, you’re in a great position. This whole thing is way out of control, way out of hand.”