Monday, June 20, 2011

Conquerors, Debt, Joblessness, and "The Crisis of the Third Century"

Lydia Fisher

Front page photos of the riots in Greece -- heartbreaking.

Everything traces back to human action. Positive constructive action leads to a good outcome. Likewise, the opposite is true.

If the financial crisis tells us anything, it's this. We moved away from person-to-person reciprocity and community orientation. We deconstructed boundaries for expedient profit. We see this in the making of the "Too Big to Fails" (the outcome of Glass-Steagall repeal which separated commercial banking from speculative investment banking) all the way down to the discarding of lending standards. No surprise, then, the devastating result.

I recently came across an article that made me think -- not much has changed.

More Here..

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