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Necessary market correction

Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value. Indeed, the policies that government will follow in its efforts to alleviate the current crisis will probably prove inflationary and therefore accelerate declines in the real value of cash accounts.

"Buy American. I Am," by Warren E. Buffett, The Malaysian Insider, October 23, 2008

My two cents: Inflation might not be a big problem if the prices of real estate, oil, raw materials, metals and share prices drop, drop, drop. I see this is a very realistic and necessary market correction which is very painful ... in this scenario, Warren Buffet is correct ...

Alan Greenspan is the person most responsible for the world-wide financial mess ... the so-called Oracle! He stayed too long in office and felt so invincible. His policy of low interest rates and easy money has caused the downward spiral into the black hole of debt, deficit and destruction...

Finally, the world will be a better place if we can learn from our collective mistakes...