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On the Current Financial Turmoil

At Forbes.com, Russ and I each weigh in on today’s financial turmoil.  Russ’s superb contribution is here; mine is here.

Only time will tell if my
optimism is justified.  Adam Smith was correct that there’s "a great
deal of ruin in a nation" — meaning that a relatively free society can
withstand much abuse.  Whether or not ours can weather the added abuse
about to be heaped on it by the hordes of political opportunists
scurrying like fanged roaches in Washington remains to be seen.