Failedagent_IHB
New member
There is a church in Florence Italy that contains the tombs of Michealangelo, Dante, El Greco, Galileo, Da Vinci, and a host of other's I have forgotten. When I stood in the cathedral, I wondered"how did all these people come to Florence and do so much in a single generation? What was it about this time and place that made it so special?". European civilization blasted out of the dark ages and into the renaissance in roughly a 40 year period and it can largely be traced to single event, when Medici was crowned pope he allowed members of the Holy Roman Church to charge interest. From this single event , arguably started by he most corrupt family on earth, the European world grew into an agricultural, artistic, and industrial culture that surpassed middle eastern and far eastern civilizations within 40 years.
When we sit in front of our computers and moan about the horrors of home debt to income ratios exceeding 28%, it makes me think of what the world was like before the concept of debt to income ratios even existed. A time when our western culture was almost 500 years behind Chinese or Arab civilizations. Simply allowing an older generation to invest their savings in a younger and more energetic youth catapulted us from the tyranny of the inquisition to financing the exploration of new worlds.
So when I think of the 700 billion dollar bailout, and the next 2.3 trillion that will surely follow, I am reminded that we needed to explore how far we could let the world grow into debt. I am certain that the more debt we can tolerate, the better off we will be, the question is only how much tolerance can we stand. Obviously, we went too far, but it is helpful to learn just how far we could push the envelope. Unfortunately, I think Mr. Paulson will be sending us all a special envelope known as a "bill".....
When we sit in front of our computers and moan about the horrors of home debt to income ratios exceeding 28%, it makes me think of what the world was like before the concept of debt to income ratios even existed. A time when our western culture was almost 500 years behind Chinese or Arab civilizations. Simply allowing an older generation to invest their savings in a younger and more energetic youth catapulted us from the tyranny of the inquisition to financing the exploration of new worlds.
So when I think of the 700 billion dollar bailout, and the next 2.3 trillion that will surely follow, I am reminded that we needed to explore how far we could let the world grow into debt. I am certain that the more debt we can tolerate, the better off we will be, the question is only how much tolerance can we stand. Obviously, we went too far, but it is helpful to learn just how far we could push the envelope. Unfortunately, I think Mr. Paulson will be sending us all a special envelope known as a "bill".....
