Look at this picture from southpark. This is all the Fed has been doing. And the idea is that they have adopted a "headless chicken" approach. What Obama and Tim Geithner has done is just a temporary prolonging of the pain. They have taken a short term view (4 years), in line with the elections. What they have done is to delay this pain and hope it will be pushed back to another president. It is the most ironic to see the "world's freest market" to be so socialized, so regulated, so controlled, so monitored. We can only HOPE that a miracle can happen but it is unlikely when you get Obama throwing kerosene in an attempt to put out the fire.
Tuesday, March 31, 2009
Keynes vs Adam Smith
Seriously what have we been learning in school? Why has the free market ideology been played down so heavily that Keynes has been adopted as the main school of thought today in most economies? I believe Keynes shifts the power from the free markets to the government which is exactly why it is popular among the politicians and economists working for the government. A free market supporter would be a lonely voice. Unfortunately that's probably the best solution to the economic crisis right now.
Look at this picture from southpark. This is all the Fed has been doing. And the idea is that they have adopted a "headless chicken" approach. What Obama and Tim Geithner has done is just a temporary prolonging of the pain. They have taken a short term view (4 years), in line with the elections. What they have done is to delay this pain and hope it will be pushed back to another president. It is the most ironic to see the "world's freest market" to be so socialized, so regulated, so controlled, so monitored. We can only HOPE that a miracle can happen but it is unlikely when you get Obama throwing kerosene in an attempt to put out the fire.
Look at this picture from southpark. This is all the Fed has been doing. And the idea is that they have adopted a "headless chicken" approach. What Obama and Tim Geithner has done is just a temporary prolonging of the pain. They have taken a short term view (4 years), in line with the elections. What they have done is to delay this pain and hope it will be pushed back to another president. It is the most ironic to see the "world's freest market" to be so socialized, so regulated, so controlled, so monitored. We can only HOPE that a miracle can happen but it is unlikely when you get Obama throwing kerosene in an attempt to put out the fire.
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