Wednesday, May 13, 2009

Unemployment numbers worse than projected | Les Jones

Unemployment numbers worse than projected | Les Jones:

The actual numbers aren’t just worse than the rosy picture Obama painted for a world after his magical stimulus took effect. They’re worse even than the doomsday scenario he outlined if Congress didn’t pass his stimulus plan.

So let's get this straight. We are currently doing worse, having "done something", than the worst predicted outcome if we had "done nothing". Tell me again how letting the markets operate without interference was a certain path to disaster?

This result of market interference was predicted by most Austrian economists, as was the entire boom/bust cycle.


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