First the bad news: The economy is weak. And now the good news: The economy is weak.
...[A]n ailing economy requires the Federal Reserve to keep its short-term interest-rate targets near zero and continue pumping billions of dollars into the financial system.
That is great for stocks because much of that money eventually finds its way into financial markets, and because cheap money keeps financing costs low and pushes corporate profits higher.
Which do you prefer?
[1] Your money>government>public services
[2] Your money>government>Wall St.>speculation>bonuses>asset bubbles>collapse>the bill>repeat
4 comments:
How about some of both?
come on, JRB, they're only doing God's work.
That's really remarkable.
the various bailouts of the financial industry were supposed to sustain the vital service of credit provision... social services, otoh, tend to be a recurring drag on the economy. from a strictly capitalist pov, any government wh values human beings over money is by definition inefficient.
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