SW KS, near Dodge City | kst1 - 5/4/2015 08:59
but some debt isn't the end of the world because we should be able to assume some larger tax base from a growing economy in the future. That's the real key, economic growth.
That's what got us into this mess in the first place. We had a lot of smart people make things really complicated so it made it very difficult to ever figure out what really is going on. Now we get to find out that the underlying assumptions that they based all of their sunshine and roses scenario on are wrong. Or that they're not robust enough to withstand external shocks that they didn't expect. When I see something that takes uber-complex math to make work in the financial world, I get very leary, because that means that somewhere along the way, common sense simple got forgotten. The more complex math it takes to make work, the less robust the model will be, IMO.
I don't see an ending that doesn't include civil unrest to some extent or another, unfortunately. Too many $$$ and too much influence are based on the status quo. Remember, it's the status quo that got the people in positions of power where they are. They have no motivation to change that. |
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