Every once in a while you come across something that asks new questions, offers a unique perspective or in some instances just turns your world 180 degrees. You finish reading it and you cant stop thinking about it and the questions it raises. I had such an experience lately and Id like to share it with you all.
Now, I've become a denizen on many of the financial and econ blogs the last two years. There are many good ones that have informed me and given me forums for asking questions and reading some pretty incredible commentaries. Naked Capitalism, Economist's View and Angry Bear are three of the best, mainly because of the number of different writers they have each week.
As I'm sure many of you have found, the comment sections on many blogs is where you get much of the best information. Sure there are always some off topic flame wars going on (not that I'd engage in such childish behavior.....) but Im impressed with the number of knowledegable people who interject and really add substance and clarification to the subjects at hand. Honestly, the comment sections are often where I really learn something because it is there that someone will take issue with the subject and a more thorough defense occurs.
Recently, via some commenters, I have come across a guy Warren Mosler and a paper he wrote called "7 Deadly Innocent Frauds"
which examines our financial system and deeply questions some of the assumptions we make or hear others make in regards to it. This paper will present things you probably have never heard of or thought of before but they are things that we as a nation should be examining, right now.
The situation for many this year is dire and there are some sensible real world possibilities but we have to get people thinking in the right paradigm. We are stuck but there is a way out. Please read the paper (I know its christmas so do it tomorrow or early next week if you must) and urge your friends to. This is a discussion that needs to happen.
MERRY CHRISTMAS