From Jerry Pournelle, noted SF author and current events commentator:
The economic forecasts are gloomy despite the hastily passed stimulus package; and we haven’t seen what new regulations are hidden in the stimulus package. I doubt that anyone has read the entire bill even yet.
The best way out of this mess is the German Economic Miracle way: suspend regulations. All regulations. Make it easy to start new companies. Let ingenuity work to allocate capital. Of course we won’t do that.
The Germans and other Europeans won’t do that either. The latest AFP headline proclaims, “European economies agree need for greater regulation”
No surprise. The major reason Eurocrats promoted adoption of the Euro in Deutschland was to get the face of Ludwig Erhard, the father of the German economic miracle, off the 2 Mark coin.
(Hat tip: Glenn Reynolds.)
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