Businesses cut prices at a record rate and builders started fewer new homes last month than anytime on record, according to new government data, as the outlook for the economy continues to dim. The data helped spur another terrible day for the stock market, as did a projection of more hard times ahead by leaders of the Federal Reserve. A serious recession now appears all but assured. (Washington Post, Thursday)
The price of government intervention.
FEE Timely Classic
Keynesian Budgets Threaten Recovery by Hans F. Sennholz
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