novanglus

To some extent it’s because in a crisis, people want to give the benefit of the doubt to the guy who looks as though he’s got the answers. And so frenzied activity is often, can create the illusion that you know what your doing. … Unfortunately it then takes on a momentum of its own because the bailouts and stimulus packages don’t work and the government’s response then is to not to say “We were wrong” - because they can’t then turn around and tell the taxpayers that it was all a waste - so they have to carry on. They make it worse every time. There’s this kind of dreadful, grizzly logic of the thing where bailouts beget further bailouts and where the ministers are saying “Ok we spent a whole bunch of money - that didn’t work so what’s the ans… Oh let’s spend another bunch of money, even more, maybe that will work.” And by the time we find out that it really didn’t work, ya know, it’s too late, the debt is being paid by our children and our grandchildren down the generations.