Wednesday, August 22, 2012
“cut or spend”: a nonsense dilemma
We won't get out this crisis unless and until the financial system is sorted out, banks start working as banks and not as giant pyramid schemes sucking money out the economy as they currently do. Cut spending or increase spending is a nonsense dilemma. None of it will work until the pyramid scheme is liquidated and the financial system starts working normally. Expert and politicians have to get real otherwise things will just keep getting worse.