The mistakes of the past cannot be undone. All that can be done is to minimize their costs and then truly reform the system so that they are not repeated.

thomas palley, the liquidity trap, and the moral response to financial excess

Phases of Grief

1. Shock – agony and disbelief
2. Chaos – this isn’t working
3. Introspection – how can we make this work?
4. Re-adaptation – how can we mitigate the pain?
5. Restitution – serenity now