Time Magazine's Recent article on our Economy
- Dec. 30th, 2008 at 11:22 PM
This shows a refreshing perspective. Finally the idea that government bailouts might cause us greater troubles in the future seems to be worming its way into mass consciousness, or at least into some of the more respected mass media. This article is written by Lawrence H. Officer, a professor of economics at University Illinois Chicago, and Ari J. Officer who has a Master of Science in financial mathematics from Stanford.
By continuing to throw money at the banks, the government is on the road to prolonging the recession and effecting massive inflation once confidence is restored and the economy then has too much liquidity. By making money available to the banks essentially for free, the Fed does not guarantee that the banks will lend out the money to businesses. There is no motivation to lend money at low rates when capital preservation (i.e., lack of confidence) is still a leading issue. Rates may be low, but the banks are not going to offer these rates to the individuals and industries that can make the most productive use of them — at least not until confidence returns.
By continuing to throw money at the banks, the government is on the road to prolonging the recession and effecting massive inflation once confidence is restored and the economy then has too much liquidity. By making money available to the banks essentially for free, the Fed does not guarantee that the banks will lend out the money to businesses. There is no motivation to lend money at low rates when capital preservation (i.e., lack of confidence) is still a leading issue. Rates may be low, but the banks are not going to offer these rates to the individuals and industries that can make the most productive use of them — at least not until confidence returns.

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- 24 Oct 2023, 00:23Thank you for giving me a taste of that adventure.
- 27 Jan 2022, 15:44Now... having said THAT... I'm sure I'll have lonely days, just like I do at home.
- 27 Jan 2022, 15:43I felt some loneliness the first week I was here. But now, no. I have enough acquaintances to not feel lonely. The landlady, Marie, speaks English and her bf is American. And her niece, Emma, also…
- 27 Jan 2022, 03:50Yes, I imagine it would. Are you lonely?
- 27 Jan 2022, 03:49I've gotten quite interested in the flow state...and yes, sometimes I'm in it when kayaking--most of the time, no. I also can get to it other times, like driving on a curvy road, listening to some…
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