Tuesday, February 12, 2008

what's wrong with the economy

Here is a good article from the Washington Independent explaining in layman's terms what the hell is going on. At the end, Charles Morris asks the questions that have been bugging me about the government "stimulus" efforts and every solution discussed in business news:
The question is, what are we are trying to accomplish? Do we want consumers to keep on spending and borrowing? Are we hoping over-levered companies will pile on more debt? Are we trying to make house prices go up? Isn’t that why we’re in trouble in the first place?

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