Brian Cowen and the economy
Some days you might feel a little bit bad for Brian Cowen. Presumably it was his dream to become Taoiseach, and after watching Bertie Ahern preside over the boom years, finally his time comes and he’s forced to take the reins for a recession. This is like inheriting the Playboy Mansion from Hugh Hefner only to find all the bunnies are dead.
I’m not educated enough to analyse the recent budget. But it gives me some comfort that at least I am aware of this fact. I’ll never understand how the man-in-the-pub thinks he has enough information to make a sensible assessment. You’d need a grounding in economic theory to start, and then be confident in your ability to forecast how world events will pan out over the next several years.
There are literally thousands of fluctuating variables to take into account. And one war, or natural disaster, or scientific breakthrough (say in the area of energy) could render all previous analysis useless.
How is it possible to decide now if any Government fiscal policy is right or not?
All I can think regarding the current financial markets is that if you’re lucky enough to have savings then this could be the best opportunity of our lifetimes to buy shares at bargain prices. Civilization as we know it will either crumble (unlikely), in which case it won’t matter how you invested your money, or (MUCH more likely) the markets will eventually recover as they always have done following previous meltdowns, and that rising tide will lift all boats.
So …
1) Brian Cowen probably hasn’t any more of a clue about all of this than I do.
2) I wonder does he have any investments of his own?
3) You shouldn’t be getting your economic analysis from an amateur cartoonist’s blog.





