Thursday, September 9, 2010

Good Comment from Tim Knight

Over at Slope of Hope:

National governments going ever-deeper into debt to assure their citizens that the economy is going to be fine 'n' dandy isn't a cure.

It is, instead, a confession. A confession that the economies of the world are in bad shape and that politicians require the appearance of action in order to seem involved and concerned.

Printing trillions of yen and trillions of dollars isn't the path to a healthy economy. It isn't natural. It's a fake. And fake really bothers your host.

Even as a child, I intuitively knew that the Soviet Union would eventually fail. And even as a childish adult, I intuitively know the same fate awaits Bernanke. What is needed to return to a healthy economy is ingenuity, industry, and - above else - time. Time to heal.
Exactly. Tim Geithner wrote an op-ed called Welcome to the Recovery over a year into the "recovery". Show me, don't tell me, Tim.

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