September 23rd, 2008

Abundantly clear

Wall Street Meltdown, Made In Washington DC

Some good summaries of the current financial mess from Robert Bidnotto and Jerry Pournelle. I'm not as pessimistic as Jerry about the consequences. We survived the savings & loan debacle (driven by the same political pressures) without all winding up out on the street. Inflation will get worse, but as Heinlein said it doesn't matter if a hamburger costs one dollar or twenty dollars as long as there's plenty of hamburger.
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