Crises Not Disappearing Overnight
Niall Ferguson with another illuminating piece that puts both the mortgage loan crisis and Iraq into interesting contrast. Essentially, Ferguson says that both of these events are of the nature that the eventual outcome cannot be known in the near term and that it will in fact be slow moving and long term. I think he is right. The "noise" of the news cycle will forever blur and distract those who look for that which lies beneath.
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