``I must give him his due. He has considerably cretinized me.'' Lautréamont

Pics click to enlarge.

Saturday, December 27, 2008

Stop Being Stupid (NYT)

The American way is to move money from where it is needed at the moment to where it can be used at the moment. This debt is matched by an asset, and the economy keeps busy with an even load.

Inflate the need for housing by making owing appear cheap and you get bad debts, which have to unwind before the system works again.

by Bob Herbert
Over the past few decades, the American way has been to pay for things with money that wasn’t there. Americans must resolve to be smarter going forward.


Blog Archive