Thursday, January 24, 2008


We're constantly told about the perils of binge drinking, but why is it only booze that's bad for you if you binge?
Spending, for example. We're now subjected to myriad warnings of dire financial peril. None of this would happen if, during the boom times, everyone retained a sense of moderation and didn't go overboard. Greed creates the boom and, consequently, the bust. Can't City folk just calm down? How many yachts and cottages in Provence do people need anyway? This slump-boom cycle isn't something that needs to be accepted as an inevitability.
However, all this does rather tarnish the previous Chancellor's reputation for prudence somewhat. I wonder what happened to that bloke....

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