Wednesday, December 03, 2008
Just say, "Nyet!"
Found in the comments to the Peter Schiff post linked below. Beautifully said:
#5) On November 21, 2008 at 4:59 PM, russiangambit (98.51) wrote:
I remember that when we had perestroika in Soviet Union, all kinds of US and IMF experts would come, look at our misery and say, it is OK, this is necessary pain to work out the excesses and inefficiencies and become a free market society.
Somehow, I find it ironic, that when it comes to the US itself, politicians and experts are doing everything possible to avoid even a bit of pain that is necessary to work out the excesses.
I don't need to tell you that Americans are not that popular in Russia anymore.
And the ultimate irony, of course, that it is impossible to stop the inevitable pain . All bailouts are accomplishing is making sure that the payback is going to be long and painful.
One of my coworkers asked me, so what are you going to do about it, about our gloomy future? And I said, I am making sure my kids are getting the best education they can. This is all I know to do. The capital in your head is something nobody can take away, which cannot be said about worldly posessions.
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