Tuesday, August 4, 2009

August 4, 2009/3

I consider this one of the most brilliant and insightful analyses I have read - and am likely ever to read - of the mess that has been made up and down, right through the American economy. Its author's spiritual journey from neocon to new dealer is fascinating.

Incidentally: some years ago, in a talk at some club, I predicted that the curse of the computerization of Wall Street would be the enabling of profitable trading of ridiculously small fractions of money. "Flash trading"? "Dark Pools?" It has come to pass.

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