The end of the party

posted by
August 8, 2011
Adam Smith Institute
by Eamonn Butler  
Posted in Commentary

"Back in 2007-08, the politicians were rushing to blame the recklessness of the banks for the financial meltdown. We at ASI argued that the real culprit was actually the recklessness of the politicians. The UK and US governments, in particular, had been throwing a wild party, living beyond their means for decades, spending like mad, creating pointless public sector jobs, then printing money and keeping down interest rates in order to pay for it. But you can't keep partying forever." (08/08/11)  

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