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| Economy |
| Buckets of Money |
| 2009-05-20 |
| This comment buried in a thread over on a Megan McArdle article deserves our attention. McNamara May 20, 2009 1:48 PM Well, back in the 1990s, we all knew that if we threw buckets of money at CMU grads who had a hazy business plan, nothing could go wrong, and we'd all get all get something for nothing. That was a bubble, and it was stupid. And while we didn't know better at the time, we sure did know better in retrospect, so it didn't really count as getting suckered. We certainly weren't EVER going to let it happen again! So, in 2000, we discovered that the bubble was stupid. But then we all realized that if we just threw buckets of money at real estate with only a hazy notion of a business plan, nothing could go wrong, and we'd all get something for nothing. Of course, we know now that that was a bubble. But since we do know it now, it didn't really count as getting suckered. Because we're smart people here. We know what bubbles look like: They involve McMansions! We certainly aren't EVER going to let that happen again! Now, of course, we've gotten over all that stuff. The bubble is over. The other bubble, I mean. That one's over, too. So now we've finally grown up, and soberly come to the realization that the only responsible, sane way for us all to have nothing go wrong and get something for nothing, is to throw buckets of money at the federal government and let them run everything, with only a hazy notion of a business plan. Thank God we came to our senses. |
| Posted by:Glenmore |