Even the Fed in Minneapolis doesn't think the bailout will work
Submitted by Texas Little El on Tue, 02/10/2009 - 22:10
ABSTRACT
Studying the experience of countries that have experienced great depressions during the twentieth century teaches us that massive public interventions in the economy to maintain employment and investment during a financial crisis can, if they distort incentives enough, lead to a great depression.
http://www.minneapolisfed.org/research/SR/SR421.pdf
Intervention didn't work during the Great Depression. Guess we won't learn from history yet again.
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Nice find. Here's a link to
Nice find. Here's a link to digg it if your into that...
http://digg.com/business_finance/What_Should_We_Learn_from_p...
Great Read! I've passed it
Great Read! I've passed it a long to many others. :)
Great read. Should be
Great read. Should be slapped in the face of every Keynesian supporter out there. They don't get it. Its amazing how dumb some of the people I talk to are.
good to see
Thanks for posting this.
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"How can we justify to the unemployed and underemployed in the United States the incredible cost of maintaining a global empire?" - Dr. Ron Paul
Did Obama Get This Report?
I think we all need to send a copy of this to Obama. I think he missed the memo.
NICE!!! Even the Fed is
NICE!!! Even the Fed is saying stop the stimulus package.
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"Scwewy Wabbit!" Elmer Fudd
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