http://www.dailyreckoning.com.au/deflation-works-on-yesterdays-bubbles/2008/04/18/ An independent perspective on the Australian and global investment markets Sat, 21 Nov 2009 17:27:32 -0600 http://wordpress.org/?v=2.8 hourly 1 http://www.dailyreckoning.com.au/deflation-works-on-yesterdays-bubbles/2008/04/18/comment-page-1/#comment-18884 Zeke Putnam Fri, 18 Apr 2008 18:13:31 +0000 http://www.dailyreckoning.com.au/?p=2483#comment-18884 It seems to me America has been on a financial continuum. When I was a young man, the stock market was for those that were wealthy so they had the gains/losses. Then it became the place for pension plans, etc. Then it became the place for everybody to make/lose their fortune but still only for the players. Now, as they say in poker, we're all in. We are gambling the money of every taxpayer, no matter what level of wealth, that the American "dream" can be had by anyone breathing. In middle age, I learned it is much better to "pay the piper" as soon as possible as you just owe the "piper" more as time goes on. American's haven't learned that but then we're an adolescent country. The bill ought to be whopper this time. It seems to me America has been on a financial continuum. When I was a young man, the stock market was for those that were wealthy so they had the gains/losses. Then it became the place for pension plans, etc. Then it became the place for everybody to make/lose their fortune but still only for the players. Now, as they say in poker, we're all in. We are gambling the money of every taxpayer, no matter what level of wealth, that the American "dream" can be had by anyone breathing. In middle age, I learned it is much better to "pay the piper" as soon as possible as you just owe the "piper" more as time goes on. American's haven't learned that but then we're an adolescent country. The bill ought to be whopper this time.

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