Paul Bessems 15-6-2015
More and more we see news articles that the 2008 crisis is over, but most of the politicians don’t understand the fundamentals of the problem or they do and just want to fool us with good news. And as Mark Twain said: ‘It is easier to fool people than to convince them that they have been fooled.’ So politicians can deal with the real problem later but the costs to deal with it later are much higher. The real problem that is still not solved is weak productivity improvement in combination with rising prosperity cost (cost of healthcare, education, safety etc.). 2008 was not a financial problem but a debt problem. Since the eighties our prosperity cost and benefits were not in balance and the gap was filled with printing and borrowing more money and that ended in 2008 because we don’t trust governments anymore that they can pay back.