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AlbertJayNock

Ludwig Von Mises

Today is the 127th birthday of Austrian (in both senses of the word) economist Ludwig Von Mises. For this and other reasons, I hope the bailout doesn't pass today.  He would not approve, as one can surmise from this article that appears on the website that bears his name.

Comments

I am only slightly more knowledgeable than you are.

I'm not 100% sure I am against the bailout. (As I said in previous posts, there are arguments that it's not even a bailout.)

I just don't like it being run through so quickly. I also don't like the way the bill grew from 3 pages to 100 in just a few days.

I also tend to think that the economy needs to experience some pain before it can come back. There is something about the bailout that smacks of postponing the inevitable.

Whatever I think, I know Ludwig Von Mises wouldn't have liked it, which was the point (however inconsequential) of my post. :)

Remember back when everybody was arguing about whether or not we were in a recession? My whole feeling was "I don't think we are....but aren't we due for one?"

If we had just let a recession happen, we would be closer to the end of it now.

I'm willing to admit the possibility that things will be unacceptably bad if we don't do the bailout and it is the least of many evils.

And I might gain more knowledge that will turn me around completely. This thing is very complex. The more I study it, the less smart I feel.