A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic.
We live in a moment of history where change is so speeded up that we begin to see the present only when it is already disappearing.
Amy Alcott, Athlete (1956) |
Howard Bach, Athlete (1979) |
Robert Baden-Powell, Soldier (1857) |
Hugo Ball, Author (1886) |
Drew Barrymore, Actress (1975) |
Jonathan Demme, Director (1944) |
Timothy Dexter, Businessman (1748) |
Terry Eagleton, Critic (1943) |
Julius Erving, Athlete (1950) |
Charles O. Finley, Businessman (1918) |
Florence Ballard, Musician (1976) |
John Fahey, Musician (2001) |
Adam Ferguson, Philosopher (1816) |
Chuck Jones, Director (2002) |