Really I’m wondering. Is it a requirement for being a Politician to fight markets as much as one possible can (and loose always in the long run?)
Can anyone tell me what were the results of the first failout plans for banks? Are they in a better shape? Have they repaid their debt?
What was the result of cash-for-clunker?
What have we gained with expanding government jobs beyond any reason?
Really I can not remember one decision the last few years which were not against markets and the irresistible forces. They try and try and pile up debt after debt and still it’s getting worth every second.
Do we really have to destroy any wealth there is? To start “afresh”?
Well if I’m have one special weakness, then it’s reading. And because of this weakness I stumbled upon quite few books which one just can
It has happened with the following books: Human Action, the road to serfdom. Geldsozializmus, End the Fed, and stuff from Friedman. Now it has “happened” again. This
time I strongly propose reading “This Time is different”. In a few words. “The state of affairs is devastating”. I never could imagine men so stupid over and over again but
here we go.
I know this books will not be read by those responsible for the mess. For them another books is the guide line. “Expert Political Judgement” and here especially the hedgehoogs. And those
are mostly getting it wrong but it does not matter, the main reason for them is “They are heard”. And so you can easily identify them in the form of Bernanke, Krugman and all those. They “know” what the future will bring
and they “no for sure” the cure. Unfortunately most of the time they do not get it right. And you have one suggestion free on whom they harm…..