Wednesday, June 10, 2009

Have Your Cake and Eat It, Too

There's all sorts of stuff I could write about: I just got back from Halifax; I've been to two scientific conferences in the last 2 weeks; the gardens (there are two this year) are in and growing; there are countless other things in my head right now.

But there's something that's been bugging me for a while, and the way the markets are behaving right now has reminded me. It's like, deep down inside, people are terrified that the current system is broken, but they don't really know what to do about it because there is no alternative, so they're just swinging their money around panicky willy-nilly.

All the while, the so-called experts are saying that everything is fine, the system is on the mend. Nothing was wrong with the foundations of the old system, it was only some dead wood that needed removing. So go ahead and invest in banks and manufacturing and all those other things which led to the economic catastrophe. The experts can see the future and it is good.

But wait, aren't these the same experts who spent 6 months telling everyone that the financial meltdown wasn't their fault because "no one could have predicted it"? Ah, so, don't blame you for the crisis because you don't have a crystal ball, but listen to you now because you can forsee the recovery?

Well, which one is it, guys? Can you predict the future or not? Evidence suggests not.

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