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« Is there really no one who knows how to plan our economic development? | Main | Par Force – An Uncommon View of the Second Amendment »

31 March 2008

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Comments

Scott Obermuller

Just had a phone conversation with a friend about all of this. Wondering what can be done with the finances that we still can control and so on. I'm afraid that we (America) have already gone off of the financial cliff. The mass of what goes over the edge is so vast, the velocity (at present) so slow and the distance to the bottom is so great, that the interval is rather quiet, actually. The current financial noise is more about the intense friction at the bottom that is having to bear the weight at the lip of the precipice at the moment. This country has become so adept at producing money from nothing, that we convinced ourselves it would just continue forever. From Social Security to home equity loans, we prided ourselves on one fabricated scheme to the next. The idea of earning money through hard work and the production of wanted and needed goods became, well, shall we say - old fashioned and Calvinist. We were all too clever by half for all of that. There is still an immense engine of industry and production in this country that carries as best it can the remaining loafers, leeches and looters, but no motor can work past it's capacity for long. We can shuffle the deck chairs, as recently announced, by giving more power to the very intitutions that helped to bring us to this condition, but until we allow the failed to actually fail and have the valueless things de-value, we will only be greasing the skids to quiet the noise at the bottom edge of the falling giant.

Mike McD

Ditto to Scott O's comments. Thanks George and Scott O.

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