In my Krugman-in-Wonderland post today, I take on Paul Krugman’s idea that government both should inflate like mad and at the same time, try to regulate away the fallout from inflation. As Peter Schiff says in that great speech given last year at the Austrian Scholars Conference, Wall Street got drunk, but the government supplied the liquor and then was shocked, SHOCKED when everyone was ripped.
Source link: http://archive.mises.org/12440/krugman-government-should-supply-lots-of-liquor-but-keep-everyone-sober/
Krugman: Government should supply lots of liquor, but keep everyone sober
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This just shows that nothing has changed in mainstream econ since 1935. That’s when Fritz Machlup wrote his masterpiece on the stock market. The complaint in Machlup’s day was that the Feds wanted to pump money into the economy but keep it out of the stock market. Krugman and others think they can stil do that, even though they have failed dozens of times. What did someone say about insanity?
Check out: http://solari.com/ in the site, click on “Financial Coup d’Etat”
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