The bailout bill was a colossal mistake and it is based on a false premise: specifically, that we’re facing a liquidity crisis and not an insolvency crisis. Ben Bernanke and Henry Paulson originally justified buying all this toxic paper because we were facing a short-term panic. Full Story »
Posted by Derek Hawkins
This is an interview with David Hendrickson in which he stakes out an economic view that we are in an insolvency crisis rather that a liquidity crisis and a world view that is much less hawkish than the mainstream views of either political party. The economic portion is well sourced to Hendrickson's blog book which in turn is wll sourced to data and world-wide economists. The international relations portion isn't well sourced but is well presented. Hendrickson may not be right, but he presents his views logically and dispassionately.
