The State of the Economy
This article made it into my crowded inbox this morning. He is saying what most people refuse to believe – that the Economy is in deep trouble.
This stood out for me:
The collapse of Lehman Brothers, and the carnage that followed, left deep scars on the collective corporate psyche. It has fundamentally changed the attitude to risk of an entire generation of executives.
This was caused by some political developments – deregulation of the banks, that allowed these scams to happen. Developments that Americans approved of, and still approve of. But cannot see their deleterious effects.
They shot themselves in the foot (or perhaps some more delicate area) and now cannot understand why they hurt so much.