While 2013 Is Shaping Up To Be An Absolutely Hellacious, Things Are Getting Worse, Fast.
December 6th, 2012
The problem is too much short term thinking by the politicians. When the crisis began, the people in charge for the government were either investment banker alumni or those wishing to be investment bankers. Therefore, they saved the banks and the crooks who ran them. It was “Field of Dreams” logic. If we save the banks and promise not to prosecute the criminals, the banks will pull us out of the slump. Well, three years on and counting, it hasn’t happened. The same money devoted to infrastructure repair and enforcement of the existing trade laws would have left us in vastly better shape than we are.
Peter Schiff – Many Other Cliffs Await the US Economy