Blame the government? Me? I know it comes as no surprise that I think the government is to blame for our current mess. While I will agree that is my knee-jerk reaction to many issues, I am glad to find others coming to the same conclusion with respect to our current economic downturn.
http://online.wsj.com/article/SB123414310280561945.html
Mr Taylor finds loose monetary policy at the root of the current mess--loose money drove the housing boom. It was made worse by policy decisions that date back to Clinton (force the banks to loan money to people that can't afford the house or the mortgage).
Monetary policy was too loose so what is the cure? Extra-loose monetary policy financed by borrowing on an unprecedented scale. In the end, I can only see inflation as a way for the government to cover the debt. That, or default. Time to buy Gold...
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