Herb Stein, an economist, pointed out the truism that, “if something cannot go on for ever, it will eventually stop.” But no one paid attention. The magic of the financial sector gave it such a larger than life profile that we began to believe that for every real life problem, no matter how complex, there is a financial sector solution.
Now, of course, we know better – for every real life problem, no matter how complex, there is a financial sector solution, which is wrong. 16. Take the case of the United States.