Thursday, October 2, 2008

Crisis Commentary: Third Installment

I just posted a short third installment.

1 comment:

Myrtle Blackwood said...

"Obviously, a collapse will also harm workers and other ordinary people, but in the wake of a collapse the country will stand a better chance to restore some sanity to the economy..."

I hope you're right, Michael. Widespread economic collapses have been known to lead to war.

I fear that one of the largest causes of the Great Depression may have revealed itself in the last 12 months. With a tiny minority of rich people having created trillions of dollars of purely fictitious 'wealth' they then proceed to print money to transform this fiction into something real. And destroy the economy in the process.