Monday, January 05, 2009

Some people have a clue

After my previous post it was fun to see this article come up on january 1st, via Reuters, bearing the exact same statement:

"Was whole economy a Ponzi scheme?"

"The financial system as a whole has had the characteristics of a Ponzi scheme if we look at it fundamentally," said Lee, who was very early in warning about deflation.(...)

You can read the rest at the international herald tribune.

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