Tuesday, Oct 20, 2009

Economic problems have been parked, not solved

This is London: London’s economy breathes easy but can it really last?

"Now people so want to believe the worst is over that no one wants to hear how it could all go pear-shaped again. Just as two years ago no one was prepared to listen to those who said the boom was out of control, so today no one wants to be told that this recovery might turn out to be a false dawn. Arguably we are beginning to make those same mistakes again - with bankers' bonuses just the beginning.
What worries the Cassandras like me is that the fundamental economic problems have been parked, not solved. The Japanese have a proverb which says that if you put rotting meat in a freezer, you don't cure the rot, you simply kill the pong. So it is with our banking system."

Posted by sybil13 @ 11:53 PM (712 views)
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2 Comments

1. Neil B said...

"so today no one wants to be told that this recovery might turn out to be a false dawn"

What recovery is that exactly?

Wednesday, October 21, 2009 08:43AM Report Comment
 

2. mr g said...

"The Japanese have a proverb which says that if you put rotting meat in a freezer, you don't cure the rot, you simply kill the pong. So it is with our banking system."

The Chinese have a proverb: "Man with one chopstick go hungry" or "Woman who cooks meat and peas in same pot is very unhygienic"

Wednesday, October 21, 2009 11:03AM Report Comment
 

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