Wednesday, June 30, 2010

Why Is the Recovery So Painfully Slow?

Here, Professor Allan Meltzer explains patiently and thoroughly why BHO's economic policies are a complete and utter failure.  One really has to wonder why BHO and his economic advisers are so ignorant of history.  One also has to wonder why we the people would elect a president so enamored with economic policies that all of history shows are flawed.  Logic shows the same, by the way.

As I have written in this space on more than one occasion, here and here for example, recessions are caused by large numbers of businesses and consumers making poor decisions simultaneously. Recessions are sustained by a continuing climate of uncertainty and fear of the next shoe falling.  Anyone care to guess about what can cause a continuing climate of uncertainty and fear?  Professor Meltzer explains it well.

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