Tuesday, December 2, 2008

Devil's Dictionary

We need a Devil's Dictionary for the New Economics...

Globalism: the consolidation of incompetency set atop massive complexity while awaiting epic catastrophe.

Cronyism is the greatest impediment to a rational prescription. The attempt to rescusitate Wall Street while Main Street burns is a huge tragedy. It makes you want to cry 'cause it ain't gonna happen. I think the economy is screaming for simplification. By supporting small regional banks, we reduce the network effect and break the risk into manageable bite-sized pieces. The food chain is tied to small-time, regional lines of credit. Who needs Manhattan?

Obama's no Huey Long. He's not even FDR. He's Clinton/Blair.

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