The Mess That Greenspan Made: Problems with a consumer-driven economy

Problems with a consumer-driven economy

Tuesday, September 15, 2009

From the Tom Toles collection at the Washington Post:

1 comments:

Nick said...: I think that's probably the most succinct explanation of the overall problem with a debt-fueled domestic-consumption economy with a trade deficit and deteriorating manufacturing and production capacity. It's compounded, of course, by nationalizing industries and crippling private business through taxes and regulation, as well as the government distorting private markets with risk-ignoring "competition" (eg: GSE's, FHA), and printed-money handouts and "incentives". Add in a healthy dose of inflation from debt monetization, and you're solidly on the path to total economic collapse.

Sometimes I wish simple economics wasn't so blindingly obvious...; September 15, 2009 11:35 AM

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