Monday, October 13, 2008

There is no evidence of human-induced financial crisis

There is no evidence of human-induced financial crisis according to this blog, which rejoices in the name of "Crikey". My first thought, like yours, no doubt, was that it was the blog of the highly respected and gaffe-proof Boris Johnson, but no, it is a serious political item.

Here is an excerpt: The financial environment moves through cycles unrelated to human activity. Financial records from the distant past demonstrate that key indices have previously been much lower than they are today, and move up and down of their own accord. Man’s contribution to these movements is dwarfed by the natural rise and fall of markets.

The following graph shows that the long-term financial trend is -- inconveniently for crisis fanatics -- resolutely upwards:

Blimey! Or should that be, Crikey! What a fool I have been, concerning myself with the so-called financial crisis. Clearly, this is all a conspiracy by the Socialists to take over the banking system.

It will all be alright. Look, here is evidence: the Telegraph has a piece saying "Greed is still Good" So that's all right then. We can all relax and go back to sleep. Tomorrow we will wake up and it will all be alright.

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