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One fundamental thing I think is the notion that the wealth the financial world 'creates' is, to a large extent, wealth it captures, i.e. that already exists. That kind of parasitic behavior can only happen in times of plenty - and the glorious years of the middle classes underpinned by plentiful and cheap energy are just the ticket.

As scarcity reappears, looting will no longer be an effective solution. Will it simply subside, or disappear, or will it try to create the conditions for its further existence (via wars, for instance), is the big question.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Sun Jun 24th, 2007 at 07:05:20 PM EST
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