Tuesday, February 17, 2009

Most Interesting Sentence I Read Today

From this week's Economist:
Indeed, some say the Few learnt [Irving] Fisher too well: from 2001 to 2004, to contain the deflationary shock waves of the tech-stock collapse, it kept interest rates low and thus helped to inflate a new bubble, in property.
A concise reminder that artificially fixing one sector one sector of the economy has unintended consequences in other sectors. One must wonder where the new holes will appear in the aftermath of the $787 billion stimulus package.

No comments: