I wish people understood economics well enough to grasp this. It's why we should NOT have bailed out the banks, the car companies, the unions and state governments. Why we should not have had a stimulus program. Why Obama's Jobs plans are all wrong. Why the green energy stuff was a farce. IF we had just allowed the market to operate, we would be well today. Now Obama's QE-3 will only make things worse. Makes me sad to think of how hard the fall will be when it comes.

Deflation and Depression: Where's the Link? - Joseph T. Salerno - Mises Daily

mises.org

Joseph Salerno writes about a long-term look at this conventional wisdom that shows that 90 percent of deflations since 1820 have not resulted in depression.