The Plausible Outcomes Range From The Gradual

There Is A Basic Lesson On Financial Crises That Governments Tend To Wait Too Long, Underestimate The Risks, Want To Do Too Little. And It Ultimately Gets Away From Them, And They End Up Spending More Money, Causing Much More Damage To The Economy.

The Government Can Help, But We Need To Make This Transition Now To A Recovery Led By Private Investment.

In The Financial System We Have Today, With Less Risk Concentrated In Banks, The Probability Of Systemic Financial Crises May Be Lower Than In Traditional Bank-centered Financial Systems

The Choice Is Between Which Mistake Is Easier To Correct: Underdoing It Or Overdoing It.

The Recognition That Things That Are Not Sustainable Will Eventually Come To An End Does Not Give Us Much Of A Guide To Whether The Transition Will Be Calm Or Exciting.