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The status quo has it backwards: low rates are now essential to prop up the wreckage left from previous doses of default and cascading losses.

The artificial hill of pottery shards is puny and localized; the consequences of our system will bring down the system in ways the system is completely blind to.

In a functional economy with real competition and transparency, every one of these cartel-corporations would be driven out of business by their ‘too big to care’ incompetence.

You see the irony here: the more successful the old solutions were, the greater our compulsion to cling to them even as they fail.

“Whenever you want to cheer yourself up, consider the good qualities of your companions.”