Tuesday, June 2, 2009

Economic prophets

Benjamin Netanyahu suggested that two economic theories about what seems likely in the coming years.  One theory posited that a rebound would take the shape of a letter “U” once things had bottomed out.  Another possibility, less hopeful, would suggest a protracted period of stagnation, similar to the shape of the letter “L”.  “Heaven forbid,” Bibi said, “that the coming years would follow instead the shape of a “ל” (suggesting deeper decline would follow the stagnation of the “L”).   What seems clear – prophets fair better in appraising morality’s future than that of market forces.

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