Growing concern

THE warning from the Central Bank that we are returning to the habits and excesses that undid us — if that is dramatic enough a description — almost a decade ago, must give us pause for thought. 

That the warning comes at the very moment difficulties at Deutsche Bank sent European markets into a tailspin yesterday and left world stocks sliding toward their worst week in three months, just adds to that concern.

Democratic politicians and their handmaiden economists have struggled for more than a century to break the boom-bust cycle, a cycle made all the more precarious by globalisation and the emergence of new economic powerhouses.