George Rebane
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.
Filecarding the Future
Evan Jones, Guest Commentator*
You have already outlined the problem: I agree with your description and analysis of the limited capacity of any individual. Where I differ with you somewhat is with your tinge of pessimism. Yes, if knowledge is wealth, we have amassed too much for any one man to carry. But we must not fall into Yogi’s fallacy that “the place is so crowded that no one goes there anymore”.
Mankind has worked long and hard in order to learn what he has learned. The problem is that it all seems so overwhelming. The solution lies in finding an effective way to manage and access this knowledge. We live in such a complex world that the Enlightenment definition of the “universal man” is no longer possible. Yet it should be noted that the Enlightenment itself is to a great extent responsible for setting in motion what has become our current state of affairs. We must not shrink from this, we must embrace it.
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