Stabilization Won’t Save Us - NYTimes.com

The opiate of central government intervention not only makes the nation stupid, it drives further intervention that only makes things ultimately worse....

Stabilization, of course, has long been the economic playbook of the United States government; it has kept interest rates low, shored up banks, purchased bad debts and printed money. But the effect is akin to treating metastatic cancer with painkillers. It has not only let deeper problems fester, but also aggravated inequality.

Now the government is spending (fiscal policy) and printing money (monetary policy) continuously to to do what? Create full employment?!?! Then what? Will they withdraw the excess liquidity? They cannot. We are now stuck and eventually the reality will set in.

Stabilization Won’t Save Us - NYTimes.com