Godfather on Economy

by Eric Rall on January 9, 2009

in Economics, Politics, Popular culture

Michael: How bad do you think it’s gonna be?

Clemenza: Pretty goddamn bad. [...] That’s alright — this thing’s gotta happen every five years or so — ten years — helps to get rid of the bad blood.

They’re talking about mob wars, but it’s the same with recessions. During good times, problems accumulate because they’re easy to ignore when everything else is going well. Eventually, the accumulated problems become unsustainable. It’s always a big mess while everything gets sorted out, but it has to happen. You can delay the sorting-out, but the delay lets problems continue accumulating that much longer and makes the inevitable correction that much more painful.

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The Godfather on Economic Cycles | The Blog of Record
01.09.09 at 4:44 pm

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