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Thursday, January 22, 2009

Profligate Stimulus

Our current economic distress is the product of consuming more than we produce, of presuming a right to instant gratification.  The Fed’s flooding the market with fiat money enabled those character deformations.  All government stimulus programs - those of President Bush and of President Obama - promote this self-destructive behavior.

Posted by Thomas E. Brewton on 01/22 at 07:32 PM
Economics • (1) Comments
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