Sunday, November 30, 2008

About the Economy

The situation is worldwide, not just American. We will be first to feel the harshest effects, as our many forms of deficit spending have fueled worldwide growth for many years. We are first in the supply chain, so to speak. But, there are real estate bubbles throughout Asia, the Middle East, and Europe. And there is massive industrial overcapacity in East Asia.

The societies that emerge from this crisis the strongest, will be those with the most elastic government institutions.

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