A great explanation of Minsky moments, what they are, who Minsky was, and why it's important. Today's must read. - Piaw Na

Well, isn't that the kind of true-blue capitalism that libertarians tout as being self-correcting and all virtuous? :-) - Piaw Na

Sorry, I hit the 'Post' button too soon and ended up deleting my first comment. But, yeah, it's really about why laissez-faire capitalism fails. - Victor Ganata

No, of course not. We need an FDR, and we got a Herbert Hoover. - Piaw Na