Thursday, 2 July 2015 00:00
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An economy, much like a household, must learn to live within their means. If what they ‘consume’ far exceeds what they produce (domestically) and what they earn (via exports), then bankruptcy is a matter of time
Printing money and creating imaginary wealth (via risky investment tools) is only a temporary ‘pain killer’
Perpetually borrowing from your neighbours has its limits
Politicians and regulators can ‘talk’ their way through economic performance, but you cannot ‘fake’ real economic value-addition
Don’t have grand parties (like the Olympics) if you cannot afford it and if there is no ROIStill sounds Greek?
