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| Tuesday, June 2, 2009 |
| Trip Results! |
The trip to Delaware was fantastic! I wrote more about it on my "Other" blog, MyLifeinTimesRoman.
Before I go to bed, I saw a blip on CNBC that was really interesting - a program called "Meeting of the Minds: The Future of Capitalism - essentially a panel forum discussion including several active and/or former CEO's and CEO-like-types, in addition to a single urban political activist, led by Maria Bartiromo, dicussing recent modifications of the open-market economy and their subsequent implications.
Before I go to sleep, I found something said by one panel member, Mohamed El-Erian, really interesting, and wanted to include it here just as food for thought. El-Erian argued that the U.S. system of banking, credit, lending, etc. - incentivized self-destructively. What did El-Erian diagnose as a key ingredient of the recession? A U.S financial system that incentivizes consumption, but not investment.
I had to think about that for a second, but it makes total sense.
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posted by Flaco @ 1:17 AM  |
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Name: Flaco
About Me: Just another thinker.
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Friedrich Nietzsche - "All things are subject to interpretation whichever interpretation prevails at a given time is a function of power and not truth." |
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