Saturday, January 24, 2009

God save the world (economy) from Quacks ...err Economists

Einstine defined insanity as "doing the same things over and over again and expecting different results".

Low interest rates and easy availability of credit .... that is what led to the current economic catastrophe .... and our learned leaders are trying to recreate same conditions.

To make it worse, governments with record deficits and borrowings are trying to pump in more money in name of bail outs.

Looks like sanity will not prevail .... with Obama also getting swayed. God save the world from these quacks who tom tom their MBA/ Economic degrees (even IIMs in India give quacks a degree) to push their ideas through ..... and condemn lesser mortal to a world of recession / slowdown every few years.

Ironically ... we will be out of this mess .... and history will record the current measures as success. Shall soon write on what will the world after recovery look like and why current measures will appear to have worked.

No comments:

Post a Comment