Signals and Noise
Greetings dear reader.
The signal to noise ratio on the Internet and other mass communication media has decreased recently, sometimes in direct proportion the rapidity of the change in our economic circumstances. Amid the welter of quick fire “opinion-ation” and simplistic reasoning the voices of considered and consistent analysis are often drowned out.
One of the few people to have been prescient, consistent and prescriptive has been Nouriel Roubini. In this article for the FT he sums up the recent evolution of the crisis in context with the long term prognosis. He does this so well and with such clarity and simplicity that there is nothing more your humble scribe can add, other than a heartfelt recommendation that you should read it – twice (as I did).
We are still in the middle of this unfolding crisis and despite what our own leadership might say, there is no guarantee that the worst is over.