Robin Hahnel uses it in his new book "Panic Rules" -- but I don't know if he orginated it.
Rob Schaap wrote: > G'day all, > > Ten minutes with today's US papers discloses that OPEC's cutting production by > a million barrels, rocketing insurance rates and ever more exacting loan > conditions are hitting US businesses, earnings reports are yet further down, > big business September quarter profits are down monumentally, machine > toolmakers have soaring inventories, and mortgages are finally becoming > tougher to get. > > If one is looking for signs of a sustained profit crisis (now in its fourth > year, in my book) and an incipient credit crunch, one can find 'em without > looking beyond the front pages. But Wall St - which soars at the prospect of > a structurally impotent rate cut (other than keeping over exposed and > profitless concerns limping unto ever greater bad debts), and plunges > skittishly at the news of a downed airliner - persists either in believing > none of this matters any more, or that they have no alternative but to be in > the game while everybody else is there. > > Who was it who said there were only two rules on The Street: Don't Panic and > Panic First? > > Cheers, > Rob. > > >
