Tuesday, February 24, 2009

"The Formula That Ate Your 401(k)"

A B-movie horror flick for the 21st century. There were THINGS MAN WAS NOT MEANT TO CORRELATE ... but foolish bankers harnessed forbidden mathematical knowledge, and next thing ya know ... look out! it's the Great Pretty Good Depression! Coming to an economy near you!

Felix Salmon lays it out in a Wired piece that's so simple, even I can almost understand it.

It remains to be seen whether the shrill, neglected Keynesian can persuade the government to build his Deficit Machine ... before it's too late.

H/t T.Z. @ VC. (The Michael Lewis piece that Zywicki links is quite awesome, btw.)

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