Sarah Hoyt, who grew up during Portugal’s big troubles in the ’70, on “how to learn to stop worrying and shrug off amnesty.” I like this bit:
I will concede that the amnesty bill passing, (and our betters DO seem to be determined to shove it down our throats) will hasten a collapse but it says nothing on what will come after. And the collapse I’ve known is coming for at least two years, the only question being now or later, hard or soft landing. Passing the amnesty will prejudice it towards near term and hard landing. Is that worse than long term and soft? I don’t know. My friend Bill Reader thinks it would be best short term and hard – that the disruption will be shorter and what’s coming better – but I’m a wussy. On the other hand, his arguments have long sounded convincing to me. I just prefer long and soft because I’ve experienced it before and know coping strategies.
I’ve always jumped in with both feet and pulled off the band-aid in one big motion, so I lean more towards a short and hard landing. I think — think — that in America’s case, it’s more likely to lead to a Renaissance than the long and soft landing.