To give credit where it is due: Tim O'Reilly posted a reply on Twitter (@timoreilly) to Tom Evslin's (@tevslin) piece.
On Sat, Nov 1, 2008 at 3:52 PM, David Land <[EMAIL PROTECTED]> wrote: > 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
