Friday, July 24, 2009

Economic Insanity

Yet another article about how we are doing exactly what the Japanese did 20 years ago (even as everyone insists that we are not), so we too can have 0% interest rates, 0% real growth, and in two decades we will still be waiting for stock and real estate prices to recover. Woohoo!!

With apologies to The Vapors:

Bottom line:
For those who said "we won't make the mistakes Japan did" let me point out that we have indeed made all of the same mistakes and now we're getting the same results.

Why is it that Einstein's exhortation continues to echo in my head?

Insanity is doing the same thing over and over but expecting a different result.

It will be interesting (in the Chinese curse sense) to see how this experiment in group insanity plays out.

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