Tuesday, March 17, 2009

A Friendly Reminder

From Andrew Sullivan's "View from Your Recession,"

...sad to say, but this is no bubble. Industries will not bounce back like nothing ever happened as in previous recessions. The confluence of so many enormous issues, breakdowns, and turning points suggests nothing less than an epochal shift. Some industries will disappear completely; others will reemerge vastly different and/or much smaller than before. The road building industry, as written of here, is one of those.

So when we are thinking about bailouts of this and bailouts of that, let's first ask, "what is this industry's role in the 21st century's cleaner, greener, and ultimately more profitable economy?"