January 30, 2009
Shelve the Stimulus
Larry Kudlow's take at NR. Read it.
My personal take based upon what little I remember of college economics is that the Fed has done its part to ensure liquidity in the financial markets in the wake of the credit crunch through a huge increase in the money supply. Inflation will surely follow (as night follows day) if the money supply is not ratcheted back once the demand for money and the velocity of money picks up. The likely result will a second recession following on the heels of the first as interest rates shoot up.
Posted by LMC at January 30, 2009 07:24 AM | TrackBackComments
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