Alvaro Vargas Llosa on the sources of our economic woes: the Federal Reserve and the state:
The Federal Reserve recently announced new measures to tackle the current financial crisis. They include helping J.P. Morgan Chase acquire Bear Stearns, lowering the discount rate and offering short-term loans to about 20 investment banks—and they came only days after the government said it would inject $200 billion into the financial system. These are the latest steps taken by the U.S. government to solve a problem created in large measure by the government itself.
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