It is sucking a huge amount of wealth and jobs from the population. Many of the large corporations, extant, are zombie corporations, especially in financial services and manufacturing and should be allowed to go under. We cannot socialize economic losses forever. Even the US government cannot stop the international business cycle. There is a limit evenetually on how much money we can print.
Monday, March 9, 2009
Another day, another few billion down the drain. This toxic soup of derivatives, coporate welfare, excessive government intervention, excess litigation and other legal activity that we call an economy is rolling down a hill like a runaway express train. Right now it is an example of multiple smaller feedback loops, leading to one gigantic negative momentum train.