Our Government screwed up big-time with the bookkeeping and they have obviously never read the Bible.
You will recall that the Pharaoh of Egypt had a dream. He dreamt that seven fat cows ate the seven scrawny cow s. But he didn’t know what the dream meant.
He called a young Hebrew man who had interpreted dreams for his master. Joesph told the Pharaoh that Egypt was to enjoy seven years of abundance followed by seven years of famine. He was advised to store all the grain from the fat years, so he could pass it out when the going got tough.
This is a story will all know and understand.
Wind forward several thousand years to Pharaoh Brown. The economists maintain that when the cycle turns down, it’s just like a drought – you counteract the the effect of the drought by giving the economy a stimulus from the public sector. Pharaoh Brown got that part of the message.
The problem is, he never had the first part of the dream – did someone eat the fat cow?
- Who ate the fat cow?
Do you recall any public official urging the public to stop spending so much in the bubble years? Instead, they encouraged the country to eat their grain.
The Government even ran deficits during the bubble years. After all, they thought they had put an end to boom and bust. Now they have no grain to offer.
They’ve turned to a desparate and reckless stunt. They’re ‘saving the world’ through fiscal stimulus and quantative easing. But the books won’t balance.
We’ve had more than seven fat years. I reckon we are in for more than seven leans ones! Perhaps I’ll wake up soon and find it was just all a bad dream!
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