CommodityPanda

Ten Non-Predictions for 2009, Part I

"Given that we're all Keynesians now"

Not all of us are fooled by Keynesian policies, some realize that government intervention is bad. In the words of Marc Faber, "Well, it may help a little bit, temporarily. But in the long run, it’s a disaster. Any government intervention into the economy is basically bad, in particular, an intervention that is designed to support prices. The Federal Reserve, and the Treasury, both actually want to support asset prices. Most cartels that have been designed to support prices eventually broke down and prices collapsed."