(DOWNLOAD) "Too Small to Fail: The William Roepke Solution to Our Economic Woes (Ideas)" by The American Conservative # Book PDF Kindle ePub Free
eBook details
- Title: Too Small to Fail: The William Roepke Solution to Our Economic Woes (Ideas)
- Author : The American Conservative
- Release Date : January 20, 2009
- Genre: Politics & Current Events,Books,
- Pages : * pages
- Size : 55 KB
Description
IT WAS NOT SUPPOSED TO end this way. In the glory days, when you could get a house with nothing down and almost nothing to pay, anything seemed possible. A new car every year? A trip to the sun? College tuition? Watch the house balloon and let the good times roll. The recipe was simplicity itself. First you find a physicist to tell you that gravity has been abolished on Wall Street. Then you hire a banker to slice and dice your derivatives. Then you promote a political class to bless the baloney before eating it. Finally, you ask China to underwrite the debt, happy to own half your house so that you don't insist that it get its own house in order. What could go wrong? No one noticed that when even bankers laugh all the way to the bank, something must be wrong. No one cared that multiplying derivatives is the fiscal equivalent of the miracle of the loaves and fishes. No one doubted the benediction of a political class that had been bought and paid for many times over.