Never Again

A lot of people have compared the boom and bust of the last few years to a bad hangover following a period of drunken excess.We have certainly had quite a lot of "jaysus did I really do that" stories about the Irish boom. It is interesting to see how the IMF blog starts its post on preventing future crises - “Never again can we let ourselves be caught unprepared by an economic and financial crisis of such global magnitude.” - "Never again" certainly does have echoes of hungover thinking. I wonder what the macroeconomic equivalent is of wolving down a breakfast roll, a bottle of coke and a few painkillers.