Growth Must Be Sustainable

So growth is good. But not the kind of growth we've been having that caused the following:

Some analysts say over-capacity is so rampant that it will stymie government efforts to unfreeze credit markets. Banks have little reason to lend not only because they still have bad debt on their books but also because businesses don't have a pressing need to expand, said Mike Shedlock, an investment analyst with Seattle-based Sitka Pacific who writes the popular blog Mish's Global Economic Trend Analysis. "What is it that we need more of?" Shedlock said. "Do we need more Wal-Marts, more Pizza Huts, more nail salons?"

Surely there is a lessen here for us. For growth to be good, it must be sustainable. That is the only kind of growth that will not result in an eventual bust and cause all kinds of misery and suffering.