mkm, yep we need to hang on and survive this crisis.
2009/02/28 01:38:07回覆
幾好喎, 畫張圖貼係 office, 的確好方法！
2009/02/27 15:10:34回覆
mkm,
thanks for referring such great reading. The whole problem behind this tsunami is basically due to all the advance development in the financial industry. People lost their mind in "Creating Wealth" and forgot about the fundamentals. In the book I read in January, the author indicated that only the cow (the one who is down to earth and really grow the bananas) will survive this crisis. However, very soon people will forget what's happen these few years and proceed to engineer other financial products to replace those that failed us so badly these two years.
2009/02/27 13:26:31回覆
Thanks for your post.
Back in my uni days, my professor struck me as the proverbial mad professor. But now I understand -- he probably saved up a fortune and afforded himself a multi-year break in order to pursue his dreams.....
Can the economy grow fast enough in real terms to redeem the massive increase in debt? In a word, no. As Frederick Soddy (1926 Nobel Laureate chemist and underground economist) pointed out long ago, “you cannot permanently pit an absurd human convention, such as the spontaneous increment of debt [compound interest] against the natural law of the spontaneous decrement of wealth [entropy].”
Dr. 168, 我把比例加大, 對市場的感覺強烈多了。
mkm, yep we need to hang on and survive this crisis.
幾好喎, 畫張圖貼係 office, 的確好方法！
mkm,
thanks for referring such great reading. The whole problem behind this tsunami is basically due to all the advance development in the financial industry. People lost their mind in "Creating Wealth" and forgot about the fundamentals. In the book I read in January, the author indicated that only the cow (the one who is down to earth and really grow the bananas) will survive this crisis. However, very soon people will forget what's happen these few years and proceed to engineer other financial products to replace those that failed us so badly these two years.
Thanks for your post.
Back in my uni days, my professor struck me as the proverbial mad professor. But now I understand -- he probably saved up a fortune and afforded himself a multi-year break in order to pursue his dreams.....
Here is the article my old professor mentioned
http://dotearth.blogs.nytimes.com/2008/10/13/growth-economics-on-a-finite-planet/
and a nice quote from it:
Can the economy grow fast enough in real terms to redeem the massive increase in debt? In a word, no. As Frederick Soddy (1926 Nobel Laureate chemist and underground economist) pointed out long ago, “you cannot permanently pit an absurd human convention, such as the spontaneous increment of debt [compound interest] against the natural law of the spontaneous decrement of wealth [entropy].”
Enjoy