I would guess that administration within most colleges (especially business schools) want their students to know all about the financial crisis. This makes sense but right now most of us feel like all this information is being crammed down our throats. I am sick of it. I don't want to even talk about it. However, the blog must go on. Noting the past few decades, it seems that the United States, among many other developed countries has forced other countries into converting into an economy where individuals, groups, businesses, and entities alike live off debt. Some say it was the American way. I think that with the creation of banking via the Stonemasons storing soldiers' fortune during the Crusades, it was only inevitable before technology sprung this sucker high into the sky. But it's always worth remembering that space is an illusion, at least in this game. You'll never make it out of the atmosphere. What goes up must come down.
Actually, maybe I'll be eating my words 50 years from now. Maybe a perfect utopia will be created... a Giver-esque world where a pill will be administered and perfectly rational, robot-like human beings will exist. Not. And for this reason, we should be winning more Pulitzers. Come on, America. Stop looking at the screen and IMAGINE (unless you're reading my blog) - deviation from economics.
Hence Keynes belief that a nation must spend their way out of a deficit, we can see that even 19th/20th century (though radical) classical economic thought was within a world of debt. It's amazing to me, and certainly should amaze the world of people who can afford to not live in such a way. Those that live paycheck to paycheck are not the ones maxing out their credit card, buying themselve a new i-(insert whatever thing-noun).
Jon Stewart tearing Jim Cramer a new one, concerning Bear Sterns. Cramer was urging people to buy and many had reason to believe that the man had some stake in the company (or was being paid by the company to support selling).
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note: found a nice cover illustration for The Giver, will post it after class
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