As Wall St banks confront another string of write-downs, I thought this post from Umair was a good commentary. Here’s a snippet:

In Zimbabwe, it looks like this: a cadre of government thugs, eating what little fat is left on the bones of the country’s decaying agricultural and industrial asset base.

In the UK and US, it looks like this: bankers cashing in million-dollar cash bonuses at the Ferrari dealership, while their deals go down in flames - and you foot the bill.

…

But the reality is simple. It’s not just that the guys who perpetuated the macropocalypse are laughing all the way to the bank. It’s that if you don’t know who the sucker is yet - that’s because it’s you. You are the pawn in this game.

I highly recommend Umair’s BubbleGeneration blog, as well as his latest Edge Economy blog at Harvard Business School. If you are a fan of Seth Godin, Umair is also a must read.