Whoever knows he is deep, strives for clarity; whoever would like to appear deep to the crowd, strives for obscurity. For the crowd considers anything deep if only it cannot see to the bottom: the crowd is so timid and afraid of going into the water.

- Friedrich Nietzsche

Doom & Gloom?

Is this about doom and gloom? No. We have speculators that have driven up prices and profited at the expense of the honest working, nose to the grindstone individual. Now, there needs to be a flushing out of the speculators and a return to normalcy of prices.

Former US Treasury Secretary Larry Summers warned that the United States may be heading into recession as the biggest victim to date of the sub-prime mortgage debacle was humiliatingly sold for a token sum in Germany. [Read]

Anything the government does to bail out borrowers will be directly helping those that have created the problem.

(Did John Edwards help facilitate a bit of this messiness?)

posted at 07:48:53 on 08/27/07 by clearpolitics - Category: Economics - [Permalink]

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