Evanston: Economics 101
Evanston: Economics 101
A few words and three charts at THE ATLANTIC last week brought home to me more than has anything else how unique and life changing for the nation and millions of individuals is our present economic debacle.
My entire economic wisdom can be reduced to two short sentences:
Don’t have more possessions than will fit on a 37’ (or smaller) boat.
Debts are chains.
This last seems to be a truth that applies to lenders as well as borrowers which is only now being learned by the “best and brightest” bankers, finance ministers, and heads of state.
Monday, December 5, 2011