The Black Swan graced CNBC with His presence this morning.  In sum:

• We’re all in denial
• We’re replacing private debt with public debt. 
• We’re not dealing with the cancer in our banking system. 
• We’re not making the structural changes we need to make. 
• We’re not being aggressive enough about restructuring debt (debt for equity swaps). 
• Bernanke is a wimpy Greenspan sycophant
• Obama’s rewarding the fools who got us here (Summers, Bernanke, Geithner)
• The banksters are taking over again

 He’s pretty much right, by the way. 

WAYNE