In his article The Great Unwind in The Washington Independent, Satyajit Das has a take on the current global financial turmoil that actually makes some sense out of this impenetrable tangle. Seeing this turbulence as a kind of detox rather than a terminal disease adds a new perspective. Like a body bloated on junk food to the point of death now being forced to eat brown rice and vegetables, the economy may eventually get well but the cure is no picnic. When a system is so out of balance, the healing looks like sickness. That I can get my head around and it actually feels hopeful.
Photo: From the online article. By flickr (TW Collins)
1 comment:
Google and "fractional reserve banking" and you'll see that the system is designed to contract at some point, but the bankers just let it go on expanding for too long. There are probably more sustainable systems out there if we decide to start all over.
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