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FSN: Krugman, Newton & Zombie Banks
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
by John Aziz
Azizonomics
Mitt Romney – supposedly advised by Mankiw among others – is outraged:
[T]he American economy doesn’t need more artificial and ineffective measures. We should be creating wealth, not printing dollars.
That word “artificial” caught my eye, because it’s the same word liquidationists used to denounce any efforts to fight the Great Depression with monetary policy. Schumpeter declared that
Any revival which is merely due to artificial stimulus leaves part of the work of depressions undone
Hayek similarly decried any recovery led by the “creation of artificial demand”.
Milton Friedman – who thought he had liberated conservatism from this kind of nonsense –must be spinning in his grave.
Continue Reading at Azizonomics.com…
2012-09-16 02:27:59
Source: http://silveristhenew.com/2012/09/15/krugman-newton-zombie-banks/
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