The Government’s Actions Are Making the Financial Crisis Worse

From: George Washington’s Blog

  • The bailouts are causing HIGHER mortgage rates for consumers
  • The government’s commercial paper buying spree is INCREASING the cost of borrowing
  • They also undermine consumer confidence. For example, consumer confidence is now at an “all-time low”, due partly to “increasing uncertainty about the government’s rescue plan“.

…economists at UCLA have concluded that some of FDR’s policies extended the length of the Great Depression by 7 years.

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