Monday, December 18, 2006


Ross Gittins on why the Business Cycle will never die:

Get it? When you fix one source of economic mismanagement and instability you encourage imbalances to emerge in other areas. Stabilise the real economy and you unwittingly invite problems in the financial economy because stability encourages people to risk gearing up in pursuit of higher profits.

Every period of stability fosters the seeds of its own destruction.

Egads! Humans, we are an abomination!