Thursday, 9 October 2008
News by the bucketful.
Jujee asked why I hadn't commented on the financial turmoil.
In truth I have nothing much to add.
Certainly I wonder on the merits of the world governments nationalising all the debt when they didn't feel the need to nationalise the profits.
Certainly the term 'self-regulation' should join 'military intelligence' as one of the great oxymorons of our age.
Certainly greed and stupidity have played a large part. Not to mention the gambler's fallacy. But these are all part of the human condition.
Certainly, from the point of view of a self-funded retiree (on paper, if not in fact) I wish it hadn't happened. But there are worse calamities that can befall you.