Debt Rattle August 29 2015
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I have a saying; culture is the cloth within which we wrap our humanity.
Western centric humans have no culture; therefore no humanity.
The evidence is daily provided by the media…“To answer this, Nouriel, you might first want to ask why it doesn’t have one already.” re:
• Does The World Need A Financial Early Warning System? (Roubini)What I would ask, rather is “Yes? And then what?” I’m dismayed to find Roubini buying into the general academic fantasy that “If we explain it, then of course the world will act on our knowledge – intelligently.” Um. No evidence for that, anywhere, ever. A nice global financial early warning system would be exactly the same as a tsunami warning siren – that is set to alert you when the wave is 30 seconds away. You’ll have time to turn and look, and watch it coming, fully appreciating your inescapable doom.
Another bit of econo-theater, from a professor:
My reading of this article – he’s working hard on having his cake, and eating it too; casting fat aspersions on “conventional wisdom”, citing down statistics of his own, but always qualifying, so he does not actually stick his neck out. “Who knows what the truth is, anyway?” 🙂
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