Bernanke's support of taxpayer bailouts as the economy's savior is the equivalent of the drunk waking up hung over, fingering the hangover as his problem, then resuming the drinking in order to blunt the pain caused by the previous night's activities.
Tuesday, April 13, 2010
Bankruptcies, not bailouts, for a healthy economy
Former student John Tamny tells Bernanke that he is part of the problem:
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I agree, also from observing countries that have been bailed out (Argentina etc), it seems that bailouts just kick the can down the road.
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