Most of us concerned about the future of the Republic have been following the subprime mess and its larger implications for our nation and way of life. For those passengers not concerned about why the cabin floor is beginning to tilt, this is the time to hit the exit button and go find an empty deck chair.
Michael Lewitt of Harch Capital has written an extremely well-composed analysis of the ragged edge on which we find ourselves financially, and a prescription for how to put ourselves back on a firm footing. This piece is especially important now that Secretary of Treasury Paulson is proposing the next pallet of palliatives to fix the US financial system. Whatever will be implemented will affect all of us. Lewitt’s article, ‘How To Fix It’, is not a sound bite but grist for the serious reader. You may not agree with all of it – it shakes some of my long-held beliefs – but it is an education about the edge of our financial cliff and also a stake in the ground. And as such, it marks a place to take a stand and communicate your own thoughts to the local politician who in all likelihood doesn’t have a clue about what is going on and just keeps an eye on the polls. Well, here’s your chance to find out how you want to affect the polls.
Kudos to John Mauldin for making this piece of clear thinking available to wider audiences.
PS. Check out this little piece and glue it together with Lewitt's article.