Setting aside the absurdity of the Washington Post giving this loser an opportunity to expatiate his discredited views, what is he saying? More control, more meddling in the credit markets, more more more of the tired old Keynesian intrusions that got us in trouble to start with.
Let's face it, people and institutions are going to be hurt, some ruined. But in Capitalism failures are as important as successes. Oh we can kicked the can down the road and attempt to re-inflate the bubble, but it only prolongs the inevitable. Let the bankers be bankers and do what they do best, loan money to good risks in order to make money. Let business adjust without all these artificial incentives that are costing us our prosperity and future. Let capitalism operate unencumbered and you may surprised, shocked even, at how fast we bounce back.
It's time for Mr. Summers and all who share his view to sit down and shut up...you've had your chance. It's time for the grown-ups to take over.
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7 comments:
The seal is broken. Well played, sir.
Bravo, Hammer.
Boring. Written for the sake of writing something.
Two thirds of my posts fall into that category, MC.
Yes, it shows. Sally has certainly stepped up her game.
Well MC, you know we all really just sit around filling the space between when Goldwater's Ghost gets off his ass and posts something.
Hey MC it's an opinion. I got lots of 'em. Are you interested in defending Summers or are you just popping off?
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