Saturday, November 1, 2014

#WitheringoftheState - finally!!

#PatrickBuchanan, who is apparently still taken seriously in some circles, recently made the following sweeping observation: “Many private institutions are succeeding splendidly. But our public institutions, save the military, seem to be broadly failing.” It is, indeed, hard to argue on behalf of any public institution these days. As for the private side, we seem to live at a time when RIO has become the measure of all things. So I guess Buchanan’s verdict would apply most forcefully to the most financially successful entities – the likes of Goldman and the other Godzillas of shadow banking (or “alternative banking,” as some aficionados prefer to call it).