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View Diary: The Swan is still Black, and We're Still Screwed (212 comments)

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  •  I argued this months ago, (4+ / 0-)

    years ago elsewhere.

    We shouldn't necessarily even be trying to simply regain the 'business as usual' that has developed over the last half century.  Credit is a societal destabilizer as much as it is a growth engine - it turbocharges your car, but doesn't do anything to improve your reflexes or brakes.  Sure, you'll move forward a lot faster, but you're also a lot more likely to wreck, catastrophically.

    I'd like to see lower lines of credit and businesses with deeper 'war chests' to dig into when times are tough, so that as things cycle from good to bad, as they always will, the companies have the cash on hand to keep people employed through the tough times rather than just doing huge layoffs that only exacerbate the bad times.

    Those who labour in the earth are the chosen people of God. - Thomas Jefferson

    by Ezekial 23 20 on Sat Jul 18, 2009 at 09:57:31 AM PDT

    [ Parent ]

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