Comments on: Counterparties: This time is entirely normal http://blogs.reuters.com/felix-salmon/2012/10/17/counterparties-this-time-is-entirely-normal/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: hypermark http://blogs.reuters.com/felix-salmon/2012/10/17/counterparties-this-time-is-entirely-normal/comment-page-1/#comment-44022 Thu, 18 Oct 2012 19:22:07 +0000 http://blogs.reuters.com/felix-salmon/?p=19028#comment-44022 If you think about it, the systemic crisis is two-fold. One is the popping of a credit bubble and a deeply dysfunctional financial system that catalyzed it.

Two is the end-game of the triumvirate forces of digitization, globalization and commoditization, owing to the rise of global broadband. This has disrupted industry after industry (retail + print media to name two) wiping out more US jobs than they create.

Case in point, when print media dies, not only do publishers go away, and the jobs housed within them, but so too go the printers, delivery trucks, publicists, books stores, etc. And this hits regional markets the worst. Simply put, one Amazon, one Apple or one Google does not even remotely replace the jobs that are permanently lost.

That may be the nature of creative destruction, but in systemic terms, it’s gaping hole in the economy whose fix has no clear repair date.

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By: MrRFox http://blogs.reuters.com/felix-salmon/2012/10/17/counterparties-this-time-is-entirely-normal/comment-page-1/#comment-43985 Thu, 18 Oct 2012 06:29:59 +0000 http://blogs.reuters.com/felix-salmon/?p=19028#comment-43985 Hard to write a primo-piece, laddy, when the first line is as wide of the mark as this one –

“How you feel about the American economy right now depends on your answer to one question: are we recovering from a recession or from a financial crisis?”

Much more insightful to have asked if we are ‘recovering’ at all, or merely once again creating the fatal illusion of progress by monetary subterfuge. But hey – you’re young. And thanks for the piece –

It provides an entre to say how much I hate how you’ve changed the site, and in doing so displayed an unambiguous contempt for your commenters – you could of at least emulated ATL’s hidden-comments layout. So, at least there’s that. See ya’ ’round – at another site.

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