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View Diary: Uniformly Catastrophic (151 comments)

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  •  The modern day financial parallel is (2+ / 0-)

    financial "innovation" got so far removed from the foundation it was built on top of that the system collapsed. We will eventually move back to the trend line  which is about 3% growth a year. We could "grow" 50% then collpase 47% everyyear or we could just slowly grow at 3% a year with small variations from the trend line. Problem is that Wall street doesn't like making only 3% a year so they bamboozel the country into thinking financial "innovation" is needed. IOW, fancy ways to finance DEBT.

    "It's getting late early" - Yogi Berra

    by buckshot face on Sun Aug 02, 2009 at 09:47:06 AM PDT

    [ Parent ]

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