Chronicles Of Depression 2.0: #344: Wrong!
So why isn’t the bailout working? They say generals are always fighting the last war. Now Ben Bernanke, who was a financial historian before he became a World Saver, may be fighting the last depression. Unfortunately, our current economic crisis is not like the one we faced in the 1930s. It’s almost its photographic negative. Policies designed to avert the last depression may actually be prolonging this crisis.
Emphasis added by me.
A good, short analysis.
It’s what I’ve suspected.
There are people who have been waiting for the Singularity.
I’m coining a new term for the period we’re about to face: the Absurdity.
I would like to witness its beginning.
It will start on the day when Paulson and Bernanke meet, see each other’s look of astonishment, and simultaneously ask, “What the fuck is going on? Why isn’t anything working?!!?”