More disgusting economic morsels of savagery

Zoellick Warns Stimulus ‘Sugar High’ Won’t Stem Unemployment

" World Bank President Robert Zoellick warned policy makers that fiscal-stimulus plans are insufficient to turn around the “real economy” and rising joblessness threatens to set off political unrest across the globe.
“While the stimulus has given an impulse, it’s like a sugar high unless you eventually get the credit system working,” Zoellick said in an interview yesterday with Bloomberg Television’s “Political Capital with Al Hunt.” “When unemployment increases, that’s probably the most political combustible issue.”

Reflux wonders what this bozo means with the phrase "eventually get the credit system working". Lets review, since the Federal Reserve act brought about its existence, the U.S. government has inflated the currency supply, backed by no hard assests, pure fiat. The Treasury manipulates interest rates above and below what the market would set them at, sending false signals to consumers and entrepreneurs, eventually leading to business cycles and bubbles within industries. Financial geniuses then created new financial instruments to sell, which eventually collapsed and destroyed trillions of dollars in the process. Then the U.S government decided to bailout, inject liquidity, and provide a 'TARP' to shield them from financial rain(how sweet). Instead of allowing the market to correct itself and past bad decisions, it was decided to take a play from the Keynesian playbook, and it appears this dude wants more of the same.

Ohhh I get it, he wants to "recapitalize banks", hmm I thought that was what the trillions was for. Silly me again! Economics is sooooo difficult! Eff you Zoellick!