poisonwood's Diaryland Diary ----------------------------------------------------------------------------------------- bad news I thought this was an interesting article on the current financial situation. But more than psychology is involved here. What is really going on, at the most fundamental level, is that the United States is in the process of being forced by its foreign creditors to begin living within its means. Another perspective, which I find hard to take seriously, but provocative nonetheless. Someone needs to invest in the United States of America. For the past decade and, in a broader sense, for the entire duration of the Reagan era, both government and Wall Street have opted not to. Should Barack Obama win, the era of neglectful government will probably come to an end. No matter who wins, Wall Street is vanishing before our eyes. And by the measure of their contribution to America's economic strength and well being, both Reagan-age government and Wall Street's investment banks plainly deserve to die. 9:05 a.m. - Sept. 18, 2008 ----------------------------------------------------------------------------------------- |
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