Great Post about the failure of economists

Last November the queen of Great Britain asked why nobody had seen the economic crisis coming, and was told by an LSE professor; "At every stage, someone was relying on somebody else and everyone thought they were doing the right thing." Maybe all she need do is look at her old honours lists and see that the leaders of most of the banks operating in her territory deserve a good questioning. Top of the list she would find the now infamous Sir Fred Goodwin. Perhaps she could ask him? Along these lines, see the following:

http://www.financialarmageddon.com/2009/05/largely-on-the-mark.html

Although there is no evidence on my blog, as it is too new, I can assure you it was as obvious to me as it was to Michael Panzner that there was an almighty imbalance building and that the amount of consumer debt was unsustainable. We were at the top of a minsky cycle.