Stimulating depression through government spending

Freedom's Phoenix
by Bill Bonner

01/21/10

The real problem is not a lack of affordable credit. It’s a lack of able buyers. People are not really as rich as they seemed. It was a mistake, in other words; it had to be corrected. But don’t expect mainstream economists, financial commentators, or the feds to understand what is going on. They are lost in their own claptrap theories and corrupt politics. What Wall Street bank will tell clients that the economy is in a depression? What Fed official … or elected politician … will admit that there is nothing they can do — except make the situation worse?

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