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2011-08-24

Market Bets on Fed Miracle

U.S. stocks jumped on Tuesday as many investors sent a plea to Federal Reserve Chairman Ben Bernanke:
Come to the rescue of the stalling economy and battered financial markets.

Wall Street Journal, AUGUST 24, 2011

Dom är inte så kaxiga, ny-Hovveristerna och gammal-österrikarna.

Nu höjs det rop på hjälp. Inga ropar Liquidate!

"Andrew W. Mellon became unpopular with the onset of the Great Depression. He advised Herbert Hoover to "liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate… it will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people."

Additionally, he advocated weeding out "weak" banks as a harsh but necessary prerequisite to the recovery of the banking system

http://en.wikipedia.org/wiki/Andrew_Mellon

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