Food for Thought

http://www.amconmag.com/blog/2011/06/01/age-of-the-hustlers/

In the American Conservative, we see:

Instead of long-term conservative planners ruling the roost, it is the Age of the Hustlers.

An acquaintance of mine, a lawyer, with some friends, doctors and such, put together some money during the boom and bought huge vacation properties on the coastline of South Carolina. … After the real estate market crashed, this lawyer, though all the investors in his group had plenty of cash, decided it was time to spin the banksters for a major reduction in the mortgage payment. So he called a meeting of the partners and advised them that they should stop making the mortgage payments. Some raised concerns about damage to their credit ratings but the lawyer explained how he would handle the negotiations and why it wouldn’t damage their credit ratings and so the group stopped paying the mortgage. After some months of this, the bank finally agreed to a major reduction in the mortgage payment. The hustlers won. They pulled a mini-Goldman Sachs play, of a sort, and came out on top.

The world is becoming much more of this hustlers game...

 Then, The Cunning Realist adds:
(http://cunningrealist.blogspot.com/)

The old and unworldly had the worst of it. Many were driven to begging, many to suicide. The young and quick-witted did well. Overnight they became free, rich, and independent. It was a situation in which mental inertia and reliance on past experience were punished by starvation and death, but rapid appraisal of new situations and speed of reaction were rewarded with sudden, vast riches.

-Sebastian Haffner on the early 20's Weimar economy in Defying Hitler

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