The absurd comment of the week goes to Larry Summer for his statements on the irony of the financial crisis.
Anyone who thinks the cure is the same as the disease (as Larry Summers clearly does) is incompetent (at best).The central irony of financial crisis is that while it is caused by too much confidence, too much borrowing and lending and too much spending, it can only be resolved with more confidence, more borrowing and lending, and more spending. Most policy failures in the United States stem from a failure to appreciate this truism...
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