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  • Moral Hazard --> Mortal Hazard

    05/06/2010 4:12:35 PM PDT · by Mr. Jeeves · 5 replies · 257+ views
    The Market Ticker ^ | 05/06/2010 | Karl Denninger
    "Kick the can" "Quantitative easing" "Bail 'em out" "The system needs the taxpayer to help it" The Greeks have rendered their verdict on this sort of thing with molotov cocktails, murder and mayhem. Let's take a critical view of this: Was it murder and mayhem, or was it justified violence? Wait a second: All violence is not justified, right? Well, no. If someone kicks your door in at 3:00 AM intending to rape your wife, and you shoot them, that's certainly violence. But most people would call it justified violence - that is, lawful self-defense. On the other hand if...