“And so we face the ultimate irony: ‘bailing-out-everything’ destroys the entire rotten system.
You’ve probably noticed that all the highly paid analysts, academics, think-tank gurus, private-sector hotshots, etc. are either clueless, incoherent or delusional. All their “solutions” boil down to one recommendation: keep the feeding trough filled to the brim, no matter how many hogs are gorging themselves.
Incompetence is now so ubiquitous, so embedded, so obvious and so intractable that we finally have to recognize that America has institutionalized incompetence.Why? That’s an interesting question with no one answer.”