Friday, July 29, 2011

The Failure of Central Planning Lite

RealClearMarkets - The Failure of Central Planning Lite: "Ben Bernanke printed massive sums of money and pumped it into the economy, and when that didn't work, he printed more money and pumped it into the economy, heedless of the inflationary risk. He's beginning to look like an incompetent car mechanic: he jams his foot on the accelerator and nothing happens, so instead of taking his foot off the gas, he just keeps it jammed there, guaranteeing that when the engine does spring back to life the car will lurch forward uncontrollably."

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