We're seeing an inflection point where the foxes overreached, got into trouble, and must now surrender initiative for a time to the lions. Holes in the regs will be plugged, life will resume, the public will go back to sleep, and very quietly the innovation by the foxes will begin again and slowly begin to accelerate...
None of which means that efforts at reform are pointless. It would be really stupid not to plug the holes that have been uncovered ("fool me twice...").
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PARETO’S CIRCULATION OF ELITES covers this quite well.
Aug 29 20:46 pm
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All Comments by JWG »Why Bubbles Can't Be Stopped [View article]
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We're seeing an inflection point where the foxes overreached, got into trouble, and must now surrender initiative for a time to the lions. Holes in the regs will be plugged, life will resume, the public will go back to sleep, and very quietly the innovation by the foxes will begin again and slowly begin to accelerate...
None of which means that efforts at reform are pointless. It would be really stupid not to plug the holes that have been uncovered ("fool me twice...").
JWG