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April 02, 2013

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Andy Miller

"whenever you see a continual and major rise in asset prices – shares, markets, industries, commodities, property, etc – it is guaranteed to go bust at some point."

.. and yet how many models do we see that are NOT straight line or exponential curve upwards, explicitly or implicitly? Business and bankers aside, I don't recall any politician owning up to the fact that implicit in government economic planning was that government debt, personal debt and property would continue their straight line increased growth. "The end of boom and bust") with the previous administration the same. That thinking was a significant cause of the financial crisis.

Peter Miller

Fabulous and timely article. Leaves the reader to draw own conclusions. It's a neat follow-on from your article on multiple sets of regulations being applied to the banking sector today. We all seek simple answers to the current crisis. Who was at fault? It is bankers who are receiving all of the blame (I am not one by the way.) The truth is that everyone, including the politicians, got greedy. And finding a way out of it, reforming but not crucifying the banking industry, must be the way forward. Our economy is facing the problem faced by any struggling business and bankrupt,which is that you have to work your way out of debt, caused by many different influences and not just banks and individual bankers, temptting targets though they may be. Keep on writing.

Michael Mainelli

Definitely fascinating. People may wish to have a look at a Gresham symposium we held on same on 10 January with Edward Chancellor, "What the Dickens? The City's Great Financial Scandals, Past and Future" - http://www.gresham.ac.uk/lectures-and-events/what-the-dickens-the-citys-great-financial-scandals-past-and-future

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