Long read but an interesting one, lots of good quotes in there.. http://www.vanityfair.com/business/features/2011/03/michael-lewis-ireland-201103?printable=true I also particularly enjoyed his article on the Greek Economy.
Excellent pick 2ds! What is particularly valuable in this article is the logical (almost simple) observations and deductions that Morgan Kelly made as he reasoned himself into an understanding of the Irish situation. Frankly, anyone could have done it - the figures were all available. Talk about asleep at the wheel! What finally triggered his close attention though, was the astonishing fact that his students were suddenly 'experts'! Yet notice how he says ""I'm not even sure that I believed what I was saying at the time. My position has always been 'You can't predict the future.'" Observe how the man who eventually became the quoted 'expert' doubted his own conclusions originally - because nobody backed him up or supported his ideas; how hard it is to swim against the tide of mass delusion - even when the data is screaming out the truth! Let's remember Kelly and keep learning to read the data and trust it like he did. 2ds might become our next economic expert!
