Eugene David
...The One-Minute Pundit

Sunday, January 25, 2009


Here's a thought: One reason we're facing such a large Darwinian wave in the economy may be that the easy money of the last two decades delayed creative destruction that otherwise would have occurred.

As long as credit was more than ample, many businesses and technologies could hang on despite being under heavy attack from more innovative rivals.


TRANSLATION: Our financial system was the MORAL EQUIVALENT OF GOVERNMENT.

(Via Seeking Alpha)

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