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Mises Economics Blog

To Treat a Snake Bite, Add Venom

July 8, 2008 9:01 PM by Jeffrey Tucker | Other posts by Jeffrey Tucker | Comments (2)

The New York Times, wholly aware of the cause of the business cycle, reports the recovery plans of the Fed to "extend low-interest lending programs to Wall Street's largest investment banks into next year."

Comments (2)

  • Bruce Koerber

  • The heroin addiction analogy is very revealing.

    But the one administering the heroin to 'heal the economy' is the biggest junkie of them all. He does not ever want to release the addict from its bondage. His exhilarating high comes from pushing the addict to higher levels of stupor and dependency.

    Now you know why the Fed proposes its next steps -extend low interest lending programs to the largest Wall Street investment banks.

    Someone needs to grab Bernanke by the forelock (a metaphor by necessity) and stick his face in the human suffering that his arrogance and ignorance is causing.

  • Published: July 9, 2008 3:40 PM

  • Kevin

  • Unfortunately, they feel the need to keep the house of cards supported. The Fed realizes the trouble that they are in. Personally I was originally amazed that the average person has no idea that banks are starting to fail. It is not even a topic of conversation among the majority. Then I realized the majority believe the Fed has the infinite power to bail out every bank with creating more money.

  • Published: July 13, 2008 9:19 AM

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