It's called creative destruction (http://en.wikipedia.org/wiki/Creative_destruction) and it's a necessary, if unpleasant, part of the economic cycle. It can't be put off forever, and the longer you do put it off, the worse it will be when it arrives.
If people who make bad investment decisions are given more money to keep their businesses from failing, how likely is it that they will use that money wisely?
In other words, the bailout might not have really helped the economy anyway (http://www.youtube.com/watch?v=zPHUtFxaJ8M).
I don't expect to enjoy the next ten years, but I wasn't planning to. I've seen this coming since the nineties. If you want to blame somebody, try this guy (http://en.wikipedia.org/wiki/Pointy-Haired_Boss). I've long known that with him running things, what is happening now would happen sooner or later.
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Date: 2008-09-30 02:50 am (UTC)If people who make bad investment decisions are given more money to keep their businesses from failing, how likely is it that they will use that money wisely?
In other words, the bailout might not have really helped the economy anyway (http://www.youtube.com/watch?v=zPHUtFxaJ8M).
I don't expect to enjoy the next ten years, but I wasn't planning to. I've seen this coming since the nineties. If you want to blame somebody, try this guy (http://en.wikipedia.org/wiki/Pointy-Haired_Boss). I've long known that with him running things, what is happening now would happen sooner or later.