Government Spending and the Risk of Ruin

This business cycle is worse, much worse, and it will stay much worse than prior recessions. The problems of the economy will not be resolved by anything that the government and the Fed are now doing or contemplating doing. These problems are too deep and structural. The financial system has failed, but the problems are far more profound. They arise from a long-term set of government and monetary policies, and they go to the production structure of American business. They reach overseas into trade issues. They reach into our poor educational system. They reach into ethical failings. They reach into misguided war policies. When a social and economic system has been misled for decades, the results go deep. They can’t be altered by public works spending and money-pumping. FULL ARTICLE