Friday, May 22, 2009

Living standards will never be the same.

You can temporarily hide problems in your biggest banks by tinkering with accountancy laws and regulations, and by pumping trillions into them. GM, on the other hand, is about to blow up in the middle of Main Street, where everyone can see it. Davidowitz sums it up in a few words that tell the whole story that everyone is so eager to avoid owning up to: "Living standards will never be the same"