The flood of bullshit triggered by the financial crisis has become a tsunami. We're drowning in it. I've turned off my radio.
The battling talking-heads forget (conveniently!) that in economics there are no perfect solutions. There's always a catch. Always: "I've got some good news, and some . . . "
That's why economics is the "dismal science."
Example: If you bail out a mismanaged corporation, hard-working, skilled employees will keep their jobs. And a few greedy, worthless scumbags will continue their free ride.
That's just the way it is. Dismal, right?
But understanding this can help you wade through the bullshit.
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