Learning wrong lessons or reaching wrong conclusions….

The only things that surpass the printing of currency by all major governments are

-human misery particularly of those who lost their jobs and livelihoods

-amount of text written about the lessons, conclusions, and cures. Many of them are wrong.

Here I will talk about the wrong lessons

1. Solution to bad loans is to give more loans to those who gave bad loans or played on them

2. It is ok to spend much more than you earn indefinitely particularly by governments

3. Spending is an unquestioned virtue. You are a traitor if you do not prop up economy by spending

4. Globalization is bad because it is the same as capitalism and free markets and both them have failed us.

5. Governments and quasi government institutions can pull us out of trouble when their failure to regulate markets (inability honor contracts) caused the problem in the first place.

Many such lessons will be seen around…..

Hemant

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s