Browsing: Bill Bonner
Hold the easy money button down too long and it is almost impossible to stop. Because the longer the Fed hands out the cheap credit, the more zombies get in line to take advantage of it. As time goes on, more and more people want to see the program continue... and fewer can survive if it doesn't.
Security spending is regarded as a necessary evil. It does not increase standards of living. But how much of it is necessary?
Large-scale planning fails because the facts upon which it is built are unreliable, frequently completely bogus.
The more you have, at least in theory, the more you can ignore the other fellow with it and go about your business.