Stephen Kinsella: I’m afraid of sandcastles

We’re stuck in a loop of making fiscal plans that get washed away

1st November, 2015

I keep worrying about our fiscal sandcastles. Since the 1950s we have built these sandcastles, until something comes along, usually an external shock like the oil crisis of the 1970s or the global financial crisis of the 2000s, and kicks it over. Rather than asking ourselves why we spent so much time making sandcastles in the first place, we get stuck in immediately, clean up the mess, rapidly forget about the stupid thing falling over,...

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