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The Government’s Actions Are Making the Financial Crisis Worse

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George Washington Blog
Tuesday, October 28, 2008

The government’s previous actions lead to the current financial crisis. See this.

Moreover, the government’s current actions are actually making things worse:

  • 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“.

Ill-advised government actions regarding the economy are not a trivial matter. For example, economists at UCLA have concluded that some of FDR’s policies extended the length of the Great Depression by 7 years.


This article was posted: Tuesday, October 28, 2008 at 12:04 pm

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