Mises Wire

It’s not working

First quarter data look terrible, with another productivity slam but we once more get the media spin: be happy because things are getting worse at a slower pace that before.

Say, does anyone remember that President Bush’s amazing Keynesian program of countercyclical policy–debt, spending, inflation, regulation, bailouts–was supposed to prevent exactly what we are seeing now?

The full story of what we’ve seen is here.

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