Time Magazine looks at the end of the era of excess and asks “is it good for America”
http://www.time.com/time/nation/article/0,8599,1887728-1,00.html
One of the telling quotes in the article is the line “This is the end of the world as we’ve known it. But it isn’t the end of the world.”
Indeed it is; the era of cheap credit is over. The way we do business, the way we run our private lives and the how we finance that way of life is going to change.
That doesn’t mean the world is ending and the sky is falling, but it does mean its time for fresh ideas.
Hat tip to Fred Wilson for the article