"Real knowledge is to know the extent of one’s ignorance."

Confucius

 

Hyperreality in the Financial World

Saturday, 28 July 2007

I've been hearing all of this chatter about the sub-prime financial fiasco... easy housing loans given out to people without money down and a risky ability to pay back and it stirred a lot of thoughts that tend to get filtered out in the background...

Basically, what if this financial crap game is really part of a larger overall trend?

In comes Scott Thill with this Thilling (forgive the pun) essay on the hyper-reality of the modern American financial system. One that increasingly looks more like 1929. He argues that more than a few folks think history is due for repeating.

 
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