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Coming to a stop
October 23, 2012

“If something cannot go on forever, it will stop.”
Herbert Stein

Who is Herb Stein I hear you say. Well he was President Richard Nixon’s principal economic advisor. And are any of you wondering who was Richard Nixon? Well, those of us of a certain age remember very well the circumstances that will forever place him in the international consciousness – I speak of course of Watergate. It is still there locked in - with Gategate and poor Andrew Mitchell proof of it. Watergate really was a scandal on an epic scale – they don’t make them like that anymore. It brought down a President and much more.

I met Herbert Stein in the early 1980s. This was in Washington and then later in London. He was a lovely man and a great defender of Nixon. I remember being bemused by this at the time and as I think back it reminds me of the human capacity to believe anything. Anyway, this quote is probably what Stein is most remembered for. He was talking of economics and we are seeing the wisdom of what he said now. What has been going on for at least twenty years here in the UK is a building up of debt that just cannot go on. Properly accounted for, public debt is already around 2.5 times our national income and being added to every year. The situation is beginning to judder but still no one really expects this to stop.

But of course it will.

best wishes

Andrew Richardson
Feelbetter Counselling East London

94 Malford Grove, London E18 2DQ

Direct Line: 0208 257 0429 Mobile: 07870 104651 Skype: famrichhg

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