Comments: A Trillion Here, A Trillion There. Pretty Soon You're Talking About No Money

Why do we always miss the obvious? What cannot be paid will not be paid, and that has always been so. When the fact of historic credibility meets historic insolvency the credibility belongs to insolvency.

Popular Delusions and the Madness of Crowds (1845) has added several chapters, and is about to record a whopper.

Posted by james wilson at November 14, 2012 11:11 AM

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