renochang

Moral Hazard: The Real Culprit of the Financial Crisis

I take the opposite approach: we have a hopelessly dumbed-down citizenry - couldn't find Iraq on a map but invaded it, clueless about balance sheets but good with FICO scores, proficient at "texting" while deficient in spelling, ... you name it! - and out of this cess pool we pick our leaders. What'd you expect?

Don't mean to be cynical, but every time I think about our leadership - all makes and models included - the term GIGO (Garbage In, Garbage Out) comes to mind. We are who we are, and we reap what we sow. The outcome is entirely expected.

But we still have our nukes. So when the world stops lending to us, we'll just have to start robbing them at gunpoint: what we can't pay for with our MasterCard's, we'll just have to pay in blood.