Sunday 355

Be Nice to the Countries That Lend You Money

Filed under: Economy — Tags: , — zundel @ am

The essential Fallows provides a look over the horizon. (Translation: really high praise—go read it.)

Be Nice to the Countries That Lend You Money” by James Fallows in The Atlantic 2008-12

After we are gone, you cannot just go to the moon to get more money.

About stock market derivatives and their role as source of evil:

If you look at every one of these [derivative] products, they make sense. But in aggregate, they are bullshit. They are crap. They serve to cheat people.

About the $700 billion US financial-rescue plan enacted in October:

Finally, after months and months of struggling with your own ideology, with your own pride, your self-righteousness … finally [the US applied] one of the great gifts of Americans, which is that you’re pragmatic.

Pardon the following, but how often do I get to use it.
“I, for one, welcome our new overlords.”

[from A&LD]

The web, and the moment, seem to serve some magazines well. The Atlantic and The Nation have done some excellent publishing this year. And Arts & Letters Daily provides a nice portal.


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