"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
An Economic Crisis Balance Sheet
Submitted by Michael Kleen on Fri, 2010-08-06 03:00
This past spring, once again, the hype of emerging recovery was fed to the public. According to Summers, the recovery was well underway and was "more vigorous than was common in such crises." ...Such perennial premature proclamations have all proven wrong. To understand why, it is necessary to understand the recent three-year-long crisis within a broader general context.
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