[neverdem]

Reason has a youtube video transcript.

The Stimulus: Jump Starting a Car with No Engine

[edcoil]

The money is going somewhere and they are doing fine.

[DB]

There's only one option. Substantially reduce government spending and stop borrowing/printing huge sums of money to operate from. The longer it takes to do that the harder it will be to turn things around and the more pain and suffering everyone will have to endure.

Government spending is like heroin. Either get off the addiction and suffer serious withdrawals or continue on and die.

[PetroniusMaximus]

ping to a very interesting article.

[Huck]

bkmrk

[Excellence]

“Inflate our way out of it” is not something people on a fixed income want to hear.

[PGalt]

Very interesting. Thanks for the post/ping.

Smith: The way I would describe it is: We created new mortgage and financial institutions too fast. No one had an incentive to think it through. Not only were there bad incentives up front with mortgage origination, but those mortgages then would be packaged, mortgage-backed securities issued, and then they were rated and “insured.” But they weren’t collateralized. They were exempt, you see. And exempt meant that they were exempt from the property rights rules that would have applied if derivatives had been classified as securities.

Who is "we"?