David,

Nice to meet you again last night and I attach the article I spoke about. It was published in the Irish Times last Saturday.

Please don’t feel under any pressure to put it on your website, I just think it’s a different angle.

Regards

David Fuller's view

Thank you so much for forwarding your apt article (posted above) and for your interesting contributions to the Markets Now discussions on Monday. 

I agree with you that “the risk of a Eurozone split have increased if politicians refuse to see the obvious”, and subscribers are probably tired of hearing me carp on about this.  I wish European citizens well but feel that we will see more creative destruction within the mismanaged EU, not least as the consequence of its fast and loose policies regarding democracy.   

I certainly share your view that capitalism is the best economic model.  And to paraphrase Winston Churchill’s: “Democracy is the worst form of government, except for all those other forms that have been tried from time to time”, we can say the same about capitalism. 

In other words, many people have also pointed out that capitalism is the worst economic system, apart from all the rest. Capitalism has to be managed with considerable wisdom, which is too often ephemeral.  At the risk of pedantry, I do not blame capitalism for 2008.  The mismanagement in terms of governance at that time, not least at too many US investment banks, was palpable.  It is a reoccurring phenomenon as part of the human condition.