piers thoughts on the economy

[hugthetrees]

this is from his bimonthly newsletter. i thought i would share with everyone what he thought. i think this man is brilliant.

"But contemporary economics remind me of a story I was told as a child: a man discovered that he could feed his cow a little less each day, and the cow didn't notice. So he tried to see how far he could take it. He had the cow down to almost nothing. But then the cow died, ruining the experiment. Sheer bad luck, the farmer thought. Well, for the past eight years the governing party in America seems to have followed a similar course, raising prices but not wages, cutting back on health entitlements, unemployment insurance, and so on, so that the billionaires could get rapidly richer at the public expense. Then, by sheer bad luck, the economy died. They never saw it coming. I have another analogy: the greedy kids got control of the candy store. They had a ball, eating all the candy without paying for it. Finally the store ran out of candy and the kids were in sad straits. They wanted someone to pay off all the unpaid debts so they could restock the store with more candy and continue eating, but no one was interested. It seemed never to occur to them to act responsibly, with an eye to the future."