Sir, – Leo Lawler (Letters, March 22nd) takes humorous issue with economists’ failure to forecast recent bank collapses in the United States.
In truth there has been for some time economic disquiet (largely ignored) that ready access to virtually free money – quantitative easing on an epic scale and ultra-low interest rates – would lead to stormy weather and an economic shipwreck.
While a view on the future outlook depends from where one takes one’s forecasts, it is certain that the sun does not always shine and the less than prudent mariner will eventually end on the rocks. – Yours, etc,
GRAHAME WALSH,
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Clontarf,
Co Dublin.
