Interesting chat today about 'bubble thinking'; its all about what I can consume, house prices will continue to rise, personal debt is good, live for the now....
Was talking to a client about how businesses practice 'bubble thinking'; its all about growth, sustainability is a concern for the future, high gearing is good.
This particular client commented that although the bubble has burst, he does not expect to see a return to bubble thinking anytime soon. If he is right, we are about to see a reordering of economic behaviour that will have radical effects for a long time to come...maybe long overdue?
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