In other words, no matter how much the Fed and the Administration try to flog the economy, nothing has really worked. As much as Bernanke boasted about being able to prevent another depression, he and the Bush-Obama Administrations have done everything they could to make things worse. And the classic indicators of a depression are still playing out and reminding us of the inefficacy and incompetence of conventional economic wisdom.
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Making Sense Of 2011 | The Daily Capitalist Good year end analysis. |
