Causes of the 2008 Crash

[Colwyn]

I found this interesting. It is brief article on the financial crash of 2008 from the viewpoint of the neglected economist Hyman Minsky. Fits pretty well for stuff originally written in the 1980s.

http://www.bbc.co.uk/news/magazine-26680993

[usedbustickets]

And a good analysis to how the Coalition Government, or rather its Chancellor, reacted to that crisis can be found in yesterday's Observer, by William Keegan, not just a good columnist but a very astute economist too.  If you ever read one (accessible) economics book (well political economy really) can I suggest Keegan's superb 'Britain With Out Oil. What lies ahead', written in 1984 at the height of the Thatcherite monetarist madness with the North Sea Oil boom at its height, not just an analysis of what had happened to the British economy at that time, but what would happen.  A re-reading today will show how right he was.

Anyway yesterday's article can be found here:-

http://www.theguardian.com/business/2014/mar/23/william-keegan-osborne-austerity-economic-policy?guni=Keyword:news-grid%20aux-1%20Pixies:Pixies:Position13

[suehugh]

If there's a boom, there is always a bust. Look at history. The Tulip boom followed by an almighty bang, and the South Sea Bubble which burst like a ponzi.
We all know how to avoid it. Make hay whilst the sun shines but put a little aside for a rainy day.
Austerity can be a word for cautious financial governance which this government is claiming but I don't think is suceeding