or was a (hackneyed) gem, at least until September.
> ... What is implosion to you?
We've had a string of implosions across the Third World since the early 1980s, so from that experience, I'd say at least a quarter of financial assets wiped out. (The NYSE will soon double that, as did Tokyo from 1990 onwards.) I gather $23 trillion of US 'wealth' is up in smoke once one does all the accounting of devalorised financial and real capital. Yes, that's an implosion. And from fictitious capital to real capital to the US position in the world economy, you can expect some steady implosion contagion.
> ... if you listened to Doug's show (and maybe you do)
> you'd have heard him talking about almost all of the problems coming
> down the pike (housing bubble, CDOs, Greenspan's faulty logic) that
> have played out in the last few months...
And all along, describing the symptoms (after the fact), I don't think he understood the underlying disease.
> ... Meanwhile, he also seems to have a pretty good position in relation to
> concrete, popular resistance from the Left which crisis predictors
> seem to expect will present itself by spontaneous generation.
Who predicts that?