Dumbing down warning - Education policy is the real threat

Economist Morgan Kelly’s warning that the “real crisis” for the economy may lie ahead is chilling and deeply dispiriting.

He has warned that if the banks have to deal with bad loans to small- or medium-sized enterprises, “we could be facing something really, really terrible, quite soon”.

This society has sacrificed so much and faced greatly reduced living standards and expectations on foot of the 2008 banking catastrophe that Prof Kelly’s warning must send a shiver down the spine of anyone who has a stake in this country’s future. It also underlines the utterly disproportionate power ceded to the banks and the great challenge addressing that dangerous, untenable situation makes unavoidable.