- Jake If you only spend 20 minutes of the rest of your life on economics, go spend them here.
If they didn't, people would always hold cash instead. Peak oil is not an energy crisis. It is a liquid fuel crisis.
Also, you have proven by example that the amount of information and sophistication necessary to do "safe bond investment" properly probably exceeds that of your average widow or orphan :P
I mean, it did exceed that of the average bond portfolio mutual fund manager, to judge by the fallout from the recent crisis... En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
And currently there is no firewall between investment credit and operating credit. Making such a firewall would probably go a long way towards making banking boring again. But that will be then, and this is now.
