Looking back this week five and ten years ago reveals what was going on.

The first article is from December 6th 2006 and it documents the madness of people shopping with other people’s money in NYC. The last paragraph just about sums it up, revealing the pathetic nature of the commentariat’s obsession with a Cowen budget when borrowing was sky-rocketing.

The second piece from exactly ten years ago speculated what will happen when the Irish public realise that they are free-riding on the rest of the monetary union but that the money will have to be paid back. It concludes on the topic of the breakup of the Euro and the rise of Euroscepticism. Maybe its a case of the stopped clock :)


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