illuminating comment in today's paper

[datasuspect]

http://www.chicagotribune.com/business/chi-080916aig-new,0,4117131.story


"It would have had "more potential for damage to the economy," said Ruder, now an emeritus law professor at Northwestern University. "If the credit markets fail, no one will lend money to anybody, and the system won't work.""

the system won't work?

maybe it needs to be broken . . .

[ThomWV]

1. It is one of two choices and the other choice is no longer available

Its either cash or credit, and we have no cash. No, the system certainly does not need to be broken. To be broken would leave the world in shambles for decades. I'm serious about that. Failure, and I mean complete failure, not just the big-time slowdown we are seeing now, would dam near send us back into the stoneage. You need only look back 90 years to see what happens with anything approaching full failure, then multiply that times the number of people in the world today compared to back then and factor in the return of fundamentlists religion over much of the world and the reliance on capital-intensive agriculture to feed the world and you'll see what I mean.

[datasuspect]

2. just so long as the truly rich are okay

god forbid they not have the leisure to interact socially with their peers in luxury.