Catitude tumbles on..

The letter can be made into a book called “Sorry, Your Majesty — economists confess for their parts (or lack thereof) in the Queen’s huge loss”.

The self-respected economists didn’t rush to give an answer just because Her Majesty asked a question that everybody has been asking. The royal question was raised (or befallen upon the humble scholars) during a visit by the monarch to London School of Economics in mid June and caught on enormous media interests. 

And they took it seriously — while the average Brits may just shrug and say “Oh, ma’am, it’s the Americans”, they elaborated how “the collective imagination of many bright people” failed to stop the crisis from happening in 3 pages.