JFK once coined the phrase to promote his efforts around building a dam back in 1963 in a desperate push to revive the economy.I'm afraid I'm going to put the above aphorism in a not-so-bright light. There are many floating startups on the Web who have been valued at exorbitant sums. The valuations are so excessive that many folks are hinting at another dot com bust. ALet's step back a few years to go over some of the precursors of today's state of affairs. Here's a very concentrated but less deserving recount to what I think has led to this nonsense. In 2007, the US triggered a world-wide financial crisis due to many years of accumulated recklessness by financial institutions. The illiquidity was so staggering that banks stopped lending money to other peer banks and consumers. This deadlock was so extreme that the crisis almost rivaled the Great Depression.


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Posted: December 8th, 2010
at 9:55pm by Koookiecrumbles

Categories: the column

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