Archive for the ‘Market Failure’ tag
Gloomy morning
The markets meltdown is very scary, and walking down wall-street today I didn’t see many happy faces. As the situation worsen we are going to hear more and more suggestions for central government actions, bailouts and other measures that will lead to further decline. As people get more desperate, and by god I can’t stop worry, and the natural tendency of election season populism - we will have to hear about the “Market Failure”.
But what we experiencing now isn’t a market failure, not at all. In fact Free Market advocates were warning us long time ago about the dangerous and the dire consequences of our inflationary policies. It was easier to dismiss such warnings and their bearer, the cost of that mistake is much more than a penny.