Dude, Where’s My Recovery?

from Jesse’s Café Américain

Happily we see that Anthony Sanders has found a new vehicle for his highly informative column, Confounded Interest, in case you wish to bookmark it.

The failure of the Fed and the regulators and the Solons of government is not terribly complex. What else would one expect if you address the symptoms badly, and do little or nothing to fix the very crux of the problem?

John Kenneth Galbraith said it quite succinctly some years ago. “Trickle-down theory – the less than elegant metaphor that if one feeds the horse enough oats, some will pass through to the road for the sparrows.”

It is like sending billions in aid to a corrupt, Third World nation, where little of what is sent actually makes it to the people for whom it is intended.

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