Welcome back! Happy New Year! Here's a delightful thought for the new year!
". . . in a market society, since when are people responsible for the economic effects of their actions? Every oil speculator helps to drive up gasoline prices. Every hedge fund that speculated against a bank by purchasing credit-default swaps on its bonds signaled skepticism about the bank’s creditworthiness and helped to make it more costly for the bank to borrow, and thus to issue loans. We are all economic pinballs, insensibly colliding for better or worse."So let's all act like the banks and just walk away! An interesting perspective from John Courson at the NYTimes . . . full article HERE.
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