Saturday, August 08, 2009

friedmanism - dissemination of dangerous positive illusions

ASPO | You, me, all of us, are about to experience a propaganda blitz about a recovering economy the likes of which we have probably never seen before. The spinmeisters are going to be out in force because GDP is very likely to turn positive in the 3rd or 4th quarters. Over-exposure to bullish financial media, which is never good for you, will pose an extreme danger to your mental health. You have been warned. Today I go back to basics to explain why the United States will remain mired in a deep hole for a long time to come.