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« Employment Without the Rose-Colored Glasses | Main | Not Short and Sweet »

February 10, 2008

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Michael Panzer writes "For the record, I expect total losses for the financial sector to approach $1 trillion."

However, this cannot be true. That money exists. Those who bet correctly won and were paid that $1 trillion.

For some to have lost $1 trillion means that others walked away with the same $1 trillion.

That $1 trillion did not disappear.

Who has that $1 trillion is what you should worry about.

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