The headline reads "Treasury, Fed to Unveil Major Lending Program...aimed at making it easier for people to borrow money."
I thought the primary cause of our self-proclaimed economic meltdown was because we made it too easy for people to borrow money - people who really couldn't afford to borrow.
Will someone with some economic talent in my family or from among my two or three friends (pretty much the only ones who might occasionally read this blog) explain the wisdom of this policy?
Let me guess first. I do realize economics, particularly, the concept of value, credit, and prosperity, is an illusion. Yes, Dr. Nicholas (my very competent college economics professor), economics is an art and not a science. I'd go one step further, professor - economics is a shell game. Money, err, CREDIT gets shifted around in a way that no one really knows who owes what to whom. I'm suspecting even the mover of the shells has lost track.
The purpose in all this?
To maintain the illusion of value, while the real value of value gradually ebbs away as the nation becomes less and less productive and more and more obsessed with consumption. To the best illusionist goes the spoils.
It will be interesting to see how much longer that macro-economic philosphy will well-serve the minions.
Your helpful explanations are sincerely hungered for.
A confused child of the system.