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  • What if World Governments Had Washed Their Hands of the Financial Crisis? [View article]
    Following Soros' well made points on radical fallibility, we must assume that it is highly unlikely that we have got all of the most important things right. The things we can't know (closed systems) are likely to be the source of the next trouble.

    The best we can do is to insist on more transparency into the most strategic parts of the economy. It would be good to know that someone is watching balance sheets of systemically important institutions, for example, so that all the liquidity generated by new taxpayer debt doesn't just go into building the next unproductive bubble (USD carry trade anyone?).

    Wouldn't it be nice to know that of all our precious new debt some of it was funding something important -- like new energy sources?
    Nov 05 08:04 am |Rating: +1 0
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