> Jeffrey Fisher wrote:
>
>> i just finally read (most of) this article . . .
>>
>> am i the only one reminded of the LTCM bailout? i'm thinking of his
>> suggestion of ordering banks to lend . . .
>
> This is more systemic than LTCM. LTCM was a potential break in the
> payments change; he's talking about the solvency of nonfinancial
> corporations, and how what's rational for one (balance-sheet
> rebuilding) could be ruinous collectively. This is out of the box
> stuff for bourgeois thought.
>
> Doug
got it. it's obviously more systemic, but i see your point about the individual/collective relationship he's after.
huh. are we going to roll back into the central planning thread, now?
j
-- jeff fisher dilettante -- er, that's 'intellectual nomad' http://www.brainmortgage.com/
"Hang yourself, you will regret it; do not hang yourself, you will also regret it; hang yourself or do not hang yourself, you will regret both; whether you hang yourself or don't hang yourself, you will regret both. That, gentlemen, is the epitome of all worldly wisdom." - Kierkegaard