Wednesday, February 10, 2010

Triumph and Tragedy of Easy Money

"The temporary improvement of the economic performance of the US economy in the last quarter of 2009 will be one more source of deception in the long series of deceptions that have plagued policy makers and investors in the recent past. The current economic expansion is brought about by monetary and fiscal stimuli. Such a kind of economic expansion does not constitute genuine economic growth. While the official statistics register economic growth, the durable production potential of the economy is actually contracting....

Antony Mueller: "Triumph and Tragedy of Easy Money"
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