Tuesday, October 21, 2008

Economic Ignorance

I've noticed a lot of economic ignorance in the political campaigns of late. Obama blames our problems on a lack of regulation. This is a popular (perhaps populist) campaign theme, but utterly misguided. McCain, on the other hand, wants to buy up mortgages, which is frankly an even worse idea than anything Obama has proposed.

To understand the real causes of the economic bust upon us, take five minutes and read this. Also, if you have not yet done so, acquaint yourself with Mish's website (wisely linked on the left by the KP Commish).

Sadly, you will not hear any of the real reasons for our woes from either campaign or from the media. Much easier to rail against greedy bankers and bad regulation. Why let the truth distract from a good talking point?

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