(In summary)
Can we win the war in Afghanistan?
No.... 'NO?'... What I mean is we cannot hope to govern the Afghan people or they will continue to be hostile towards us. We need to train a government of natuve Afghan people that can handle the insurgency on their own and be there in, if anything, a support function. I am curious to know Obama's plans with regard to finding an exit strategy in the area.
Why have Canadian banks done so well?
We have known for a long time that a completely unregulated financial sector would lead to all sorts of terrible problems such as pyramid selling. The US is now learning lessons they should have learned in the 1930s by not having these regulations.
What did you talk to Obama about?
We talked about how we must not let things slide down into protectionalism or we will push the economic crisis deeper. But there are many issues within the NAFTA treaty that Obama said may well need to be rewritten in order to help the US.
As an economist, what do you think should be done about this?
The government has to move in and absorb the insolvent funds. The stimilus package needed to be done. At the same time both of these actions are fraught with long-term danger and moral issues. We're glad that in Canada we did not have to do that. Part of this is due to regulations we set up within the housing district.
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