Yes I read Schumpeter back in the 70's and Ludlow I think, warning about the fallacy of exponential growth. Seem to be lessons ignored by the Harvard MBA's.
Banks got us into this by irresponsible lending, but governments keep throwing money at them as if this will solve the problem. It's the banks stupid!!! (Slogan on my T Shirt)
People keep saying how strong the Australian Banks are. We will see!!
With this new loyalty fee, banks are going back to type and making most of their money by stealing from customer's accounts not by any clever investment or business acument.
ANZ Price at posting:
$12.63 Sentiment: None Disclosure: Not Held
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