Friday, February 27, 2009

An Austrian View of Simulus

Mike Rozeff (MR), a retired finance professor applies Austrian economics to Obama's stimulus plan. Having read the WSJ piece Rozeff refers to, I have nothing to add to Rozeff's 13 February 2009 comments: http://www.lewrockwell.com/rozeff/rozeff269.html. He's got it nailed.

5 comments:

Anonymous said...

Rozeff... excellent stuff... thanks IA.

Printfaster said...

The one trenchant comment was that any spending has to be paid for by taxes.

Either the taxes directly collapse the private credit market by extracting cash, or the Fed must print money by buying the treasury paper, injecting funny money in the private credit market, devaluing the private credit market.

Stimulus is junk. Bailouts are junk. Lucky that we have a junkyard dog as president.

Independent Accountant said...

Anonymous:
You're welcome. Rozeff is one of us now, an Austrian.

Negocios Loucos said...

Excellent post. Thanks for posting IA!

Independent Accountant said...

NL:
Thank Rozeff.