"Africa is, indeed, coming into fashion." - Horace Walpole (1774)

9.15.2008

meanwhile, back on wall street

What with the hurricane and all, perhaps you haven't noticed that the economy is collapsing around us. Gang, it's bad. And it's not going to get better for awhile:



This gives me serious pause in thinking about the presidential race, especially with respect to which of the candidates, and their nominated potential successors, have the experience to handle a crisis like this. Quite frankly, it's not an encouraging thought with any of the four options.

On the other hand, it's pretty clear that this whole crisis was brought about by people who thought they could skirt what seems to me to be one of the most basic facts upon which finacial transactions are based: spending money you don't have usually causes you to lose more money. There was massive irresponsibility on the part of millions of people, and now we're all paying the price.

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