On Sat, Nov 1, 2008 at 2:22 PM, Jon Louis Mann <[EMAIL PROTECTED]> wrote:
> the economic boom due to unregulated greed has turned into an exploded bomb - > no longer ticking... I like what Tom Evslin had to say about this at http://budurl.com/ejfz: This correction from excess has been violent and in many ways harmful but it HAS cured many of the excesses; the goal shouldn't be to reestablish them. We don't want housing prices to boom out of reach again; we don't want oil prices to go up or credit to be extended promiscuously; we don't want a banking economy based on the third derivative of valueless debt. We need to be wary of those crying "crisis" because they have a solution to sell. We've already gone too far in pouring aid in at the top of the financial system hoping (to put a good light on it) that it'll trickle down. We will need to cushion some of the pain at the bottom of the economic heap; there'll be more need for unemployment insurance before there's less. We can't afford to let starved states cut back on infrastructure projects both for the sake of the infrastructure and for the sake of the economy. But we also want the excesses that have been corrected stay corrected – at least until the next bubble. "We also want the excesses that have been corrected to stay corrected." A nice dream. Dave _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
