Perpetual (adj.): everlasting, valid for all time.
First rule of life – Nothing is perpetual. If your parents haven’t hammered that into your head, just passing through life would’ve made that abundantly clear by now.
Last night, rewatched this amazing and at the same time disturbing CNBC special call ‘House of Cards’. It examines the time line and the reasons behind the recent credit crisis:
The biggest thing that stumped me was the part where Wall Street assumed a perpetual 6-8% growth in the housing market. Now I know that speculation/assumption is the name of the game in Wall Street, but perpetual gains??
Everything they did was based on this perpetual flow of money. Essentially they were banking on money from the infinite future as their stepping stone. How crazy is that?
Link to the video: CNBC – House of Cards
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