Doom Cycle
March 10, 2010Henry Baum No Comments »A couple of smart people on the economy, or the cliff we’re on the edge of:
Simon Johnson on the Doom Cycle (MMBM) from Roosevelt Institute on Vimeo.
About Simon Johnson: Prof. Johnson is the Ronald A. Kurtz (1954) Professor of Entrepreneurship at MIT Sloan School of Management. He is also a senior fellow at the Peterson Institute for International Economics in Washington, D.C., a co-founder of BaselineScenario.com (a widely cited website on the global economy), and a member of the Congressional Budget Office’s Panel of Economic Advisers.
Fraud is built into the system. Those with any moral sense leave while those who remain are bottom feeders:
(via)
Meanwhile, I reviewed American Apocalypse, an apocalypse novel about a financial meltdown – which is irritatingly prescient, and basically confirms what these guys are saying.
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