Wednesday, December 17, 2008

The Great...What do they know?

I'm really not in a position to spend time writing right now. But here is a perfect dark humor I come across when doing some work.

You wouldn't be short that Time would run a cover of The New Hard Times, given the current situation. But maybe you would be amused that just a year ago Times (UK) ran a column of Welcome to the Great Moderation. Great Moderation is a term that is used to describe the peaceful growth the world has been enjoying. It has caught some fire in the circle of policy makers. I have come across at least one FedRB's research paper that used the term in the title. The subtitle of the January Times piece says:

Historians will marvel at the stability of our era

Maybe the author is mocked by his ten-year-old son right now. It begs the question: what does commentators really know. Yeah, sure, historians will marvel about something.

Related Content of This Rocking Post