I do wonder a bit, you know?
This weekend marks a pivotal moment in the history of Western capitalism.
The
melt-down of America’s high-risk mortgage market now threatens the most
serious financial crisis since global share prices collapsed back in
1987.
And then on to yet more doom and gloom and the end of the world is nigh.
Yes, it’s possible that there might be a recession. Possible, but still not even likely, let alone certain. OK, nasty things recessions, people go bust, lose jobs, lose wealth.
Indeed, but we’ve had them before and we’ll have them again: no one is seriously (whatever G. Brown claims) suggesting that the business cycle has been abolished.
D’ye think that part of it might be the joy of the business page writers in having something to write about, something juicy?
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