The horizon is not so far as we can see, but as far as we can imagine Home About Credits The American Choice: Break up and regulate companies or suffer another crisis 2009 July 16 by Ian Welsh Too big to fail means to big to live. This is the mantra which many people have taken up since the financial crisis exploded last year, and 15 trillion dollars or so was spent, loaned, committed and guaranteed by the government in response to systemic failures both in and out of the financial sector (the latter stemming mainly from financial sector failure.) Or, as Frank Borman put it, capitalism without bankruptcy is like Christianity without hell. (Perhaps I should capitalize Capitalism, since it's become a religion).
Too big to fail means to big to live. This is the mantra which many people have taken up since the financial crisis exploded last year, and 15 trillion dollars or so was spent, loaned, committed and guaranteed by the government in response to systemic failures both in and out of the financial sector (the latter stemming mainly from financial sector failure.)
Or, as Frank Borman put it, capitalism without bankruptcy is like Christianity without hell. (Perhaps I should capitalize Capitalism, since it's become a religion).
bold mine
i like this one too:
Too Big To Fail . . . You Know The Rest | The Agonist
Just as a gravitational point mass -- a black hole -- is the failure point of Einsteinian physics, so too a monopoly or cartel is the failure point of free enterprise. Would that people would understand it that way.
apologies to the maths-physics brigade if that's nonsense, lol!
or how about this?
"Boomers - Winter is Coming" by James Quinn. FSO Editorial 07/13/2009
We perceive our civic challenge as some vast, insoluble Rubik's Cube. Behind each problem lies yet another, and another, ad infinitum. To fix crime we have to fix the family, but before we do that we have to fix welfare, and that means fixing our budget, and that means fixing our civic spirit, but we can't do that without fixing moral standards, and that means fixing schools and churches, and that means fixing the inner cities, and that's impossible unless we fix crime. There's no fulcrum on which to rest a policy lever. People of all ages sense that something huge will have to sweep across America before the gloom can be lifted - but that's an awareness we suppress. As a nation, we're in deep denial. - Strauss & Howe - The Fourth Turning
calling rubik, stat! ~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~
Too Big To Fail . . . You Know The Rest | The AgonistJust as a gravitational point mass -- a black hole -- is the failure point of Einsteinian physics, so too a monopoly or cartel is the failure point of free enterprise. Would that people would understand it that way. apologies to the maths-physics brigade if that's nonsense, lol!
But that is actually nonsense: the goal of the entrepreneur is to achieve monopoly. The peak-to-trough part of the business cycle is an outlier. Carnot would have died laughing.
