Image by Eddi 07 via Flickrhttp://www.nytimes.com/2008/11/23/business/23every.html?em From Ben Stein, NYT "In this situation, where fear rules, we must turn to the federal government for relief. The private sector is the patient, not the doctor. Solvency guarantees for banks that lend are a must. No more Lehmans can be allowed to happen. A truly serious stimulus package is very much in order. It has to be big enough and last long enough that Americans do not just sock it away under the mattress. We cannot nickel-and-dime our way out of this. The inflation threat is small in an economy in full credit-collapse mode. There is virtually no dose of stimulus that is too much in an economy as shellshocked as today’s."
I am very fond of Ben Stein, but do not agree with many of his solutions to economic problems. The fact that he is asking for a New Deal from the Obama presidency speaks loudly to how far we have fallen.
And, of course, Bush is like an idiot in another, special room, talking jibberish about the power of the free market; just riding the moth that brung 'em 'till he kisses the open flame.
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