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Monday, 27 October 2008

Laffer: The end of the age of posterity

"Now enter the government and the prospects of a kinder and gentler economy. To alleviate the obvious hardships to both homeowners and banks, the government commits to buy mortgages and inject capital into banks, which on the face of it seems like a very nice thing to do. But unfortunately in this world there is no tooth fairy."

The rest of the article is linked to the title.

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