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Michael Lewis Explains Why America Is The New Third World

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October 08, 2011 – Comments (2)

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#1) On October 09, 2011 at 1:35 AM, traderbach (< 20) wrote:

Thanks for the post Abitare!  Seems like Mr. Lewis is unfortunately right.  It's a political judgment that the pain is not yet intense enough for the kind of actions necessary for us to transition to a newer model.  Really fascinating piece.

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#2) On October 10, 2011 at 2:49 PM, rfaramir (29.37) wrote:

Moneyball author (which I loved!):

We have problems normally associated with 3rd worlds countries.

Moral breakdown. Intellectual failure. Not paying attention to the long term. Byproduct of peace and prosperity(?) Patterns of behavior unsustainable.

What happens next is unknowable. A number of paths it could take. Realist optimistic path: Europe and Euro falls apart, Greece exits from bottom or Germany from top, but people cope; pure optimist scenario is that debt is restructured, we have slow growth, high unemployment, and no panic. It's a political question, which is why it's not answerable ahead of time. [I'm NOT an optimist so long as politics are tried. Politics have to get out of the way and let Liberty and Responsibility work.]

And Moneyball the movie came out as a happy surprise. [I'm sure looking forward to it.]

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