Thursday, June 4, 2009

The Age of Folly (Lew Rockwell)

Lew Rockwell on the predictable and miserable failure of the War on Recession:

How about a bit of reality? Not the ridiculous promises from Washington: the absurd talk of "green shoots" while unemployment soars and investment falls; the silly guarantees that GM has a bright future, even as its stock price falls to less than the price of a Snickers bar; the nonsense about how if we spend more and inflate more, recovery will come tomorrow morning.

The war on recession is a flop. Fail, fail, fail.

The full-scale war on recession began in January 2008. Unemployment was climbing and house prices were falling, and George Bush, whose entire persona was the war mode since 2001, decided he wouldn't tolerate declining economic conditions.

Read the rest

No comments: