MB Civic

By Robert Reich | Sunday, February 1, 2009 | The Washington Post

“…Those who support the stimulus as a desperate measure to arrest the downward plunge in the business cycle might be called cyclists. Others, including me, see the stimulus as the first step toward addressing deep structural flaws in the economy. We are the structuralists. These two camps are united behind the current stimulus, but may not be for long. Cyclists blame the current crisis on a speculative bubble that threw the economy’s self-regulating mechanisms out of whack. They say that we can avoid future downturns if the Fed pops bubbles earlier by raising interest rates when speculation heats up. But structuralists see it very differently….”…BS

http://www.washingtonpost.com/wp-dyn/content/article/2009/01/30/AR2009013003116_pf.html