Ha-ha...
http://www.brainyquote.com/quotes/keywords/abyss.html
Still here? Congratulations, you made it past the fluff.
The New York Times article that follows nails many of my local and global economic concerns from the movie I've got going in my head. Investors, it says, are recognizing that the financial crisis is not the fundamental economic problem; rather, it has only amplified other problems that we've been ignoring.
Though the article paints a picture that's closer than most, it's not quite a bulls-eye. The truth is that the economic crisis is but a symptom of a far greater dilemma which confronted and confronts us, both as a people, a nation, and a planet. The other problems the article mentions are also but symptoms of our true dilemma. THE problem is at the root of why Americans feel so entitled to special treatment, so entitled to a comfortable living, and so entitled to spend money while living the so-called American dream through an unsustainable orgy of credit and consumption. Paulson and Bernanke's botched recovery plan can only make things worse because at its heart, their ideas represent a vain attempt to bring the bubble back. The bubble, dear reader, has burst. Gone to bubble heaven. One cannot un-burst a bubble; one must start over to try and make a new one. The patsies tell us -- in four-part harmony -- that the economy "will emerge from this period with renewed vigor." Not exactly. Read the article; we'll talk later.
You may need to subscribe to read the entire article. The NYT online is free, subscribing is easy, and they only send you email if you tell them to... no spam.
I withhold further elaboration for now. Yes I know that a blogger blogs solely to comment. Just read.
http://www.nytimes.com/2008/10/16/business/economy/16econ.html?th&emc=th
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