Unknown Investor

Sleepwalking to Economic Oblivion

excellent analogy


On Feb 06 07:29 PM mr freddo wrote:

> We used to battle forest fires as if they were a demon that must
> be stopped before all those beautiful trees were burned. Then we
> realized that forest fires are a part of the natural process and
> useful in clearing out the dead wood. When we don't allow fires,
> the dead wood builds to a level whereby when a fire does break out,
> it is a huge catastrophic fire that takes out hundreds of houses
> along with the trees.
>
> So the Keynesians are like the forest fire fighters of last generation,
> trying to prevent the fire that destroys all of the dead wood, the
> fuel for the catastrophic fire down the road.