Thursday, March 05, 2009

Michael Lewis on Iceland

Great article in Vanity Fair: It is 7 pages long. 

And some great lines to conclude the article:

When you borrow a lot of money to create a false prosperity, you import the future into the present. It isn’t the actual future so much as some grotesque silicon version of it. Leverage buys you a glimpse of a prosperity you haven’t really earned.

No comments: