This is all topical economics. Example: The result is a heavy dose of heavily concentrated industries--and while that's good for beancounters, it's terrible fo

This is all topical economics. Example: The result is a heavy dose of heavily concentrated industries--and while that's good for beancounters, it's terrible for innovation, basic quality standards, customer service, and, of course, investors. Wait. So large companies like Apple, GE, GM, Google, and Boeing aren't developing new and exciting technology? Also, if something is good for "beancounters" (like, say, an increase in the company's book value or cash flow), well, isn't that good for investors too? More: he reads the NY Times, sees that Chinese IPOs > US IPOs, and concludes America is broken? China's GDP is growing 3-4 times as fast as ours, so 3-4 times as many IPOs seems about right. He also misunderstands how savings flow through our economy. We don't need to "shift savings into investments." The moment banks receive consumer savings, they're lent out to small businesses so they can purchase equipment. That's investment. He also trots out the "oh woe is our net trade situation" without mentioning that any trade rebalancing will decrease China's GDP by billions. So there's that. He's complicating our economic problems. The bottom line: we were overleveraged as a country. Now our economy is (drastically) adjusting. We'll be fine.