Just stumbled across this quote from Asia Times Online and it’s too good not to share: There is nothing complicated about finance. It is based on old people lending to young people. Young people invest in homes and businesses; aging people save to acquire assets on which to retire. The new generation supports the old [...]
Flametoad
Words of wisdom from a combustable amphibian.
Posts tagged ‘money’
Financial Crisis for Dummies, part II
September 23rd, 2008
Financial Crisis for Dummies
September 23rd, 2008
Author EE Knight was kind enough to post smart guy Jim Manzi’s explanation of how our current finanical crisis came about. I thought it was a great summary not only of how we got here, but also why it’s important to even those of us who do make our mortgage payments. It’s a plain English explanation we [...]
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