Very simply said. There is opportunity in things getting so bad that new structures are able to emerge. I used to hope we could see those changes without the chaos, but it looks like that’s just how we people do things.
What happened in yesterday’s market underlines the deep bind we now find ourselves in. We have politically precluded new revenues and have shifted our attention to deficit reduction at a time when we would need to invest. We have already had two rounds of quantitative easing and interest rates…
