The "invisible hand" needs a hand

Alan Greenspan, one of the chief advocate of laissez-faire capitalism over the past decade, has formally accepted the idea that nationalization of banks might be needed to help to overcome the present financial and economic crisis. Not that I think nationalized industries are competing better. I just appreciate and respect when one recognizes the limits and weaknesses of its own system and trends to a more balanced view of the world.

A bridge in the Khyber Pass has been blown up

The Khyber Pass is a strategic and historic pass that links Pakistan to Afghanistan. As Paddy Docherty describes in his wonderful book (see my review), the pass has seen History passing through since Alexander the Great. Today, the role of the pass has not diminished.

Yesterday, a bridge in the Khyber Pass has been blown up, cutting the main road of supply to NATO forces in Afghanistan.