Crisis? What crisis?

Of course we have a crisis, people lose jobs, companies go bankrupt and all explained on the basis of greed, lack of regulation and wall street walking on clouds. Some people argue that the good times was just an illusion. Well, if the economic growth, wealth creation and the excess profits of the last few years were an illusion, shouldn't then an illusion's fall and demise also be an illusion? That's the only logical conclusion you can make if you accept the premise of the illusion.

So it wasn't an illusion and we have a real crisis which means we did have real growth and wealth creation. Is it simply changing hands now in which case the crisis is a process of wealth reallocation and ensuing disruption? Or is wealth actually destroyed at a level below the one that existed before excess growth building began?

Physical wealth in the US, Europe and Asia is not being destroyed. We are not experiencing a World War. With the exception of oil depleting and a climate changing, bridges, roads and buildings are still in place. So the major destruction is mainly happening to the intangibles. That's why prices fluctuate like crazy.

Isn't the creation of intangibles, however, infinite? If you look at history and also believe in human nature then you must accept its ability to create new intellectual words out of old ones.

I am optimistic. To those who argue previous wealth creation and economic growth was just borrowed time and an illusion, I rest my case.

Crisis? What crisis? It's just an illusion!

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