By John Tamny of Forbes
Fed Chairman Bernanke continues to give speeches suggesting government bailouts saved the economy, as though the U.S. economy is some kind of living, breathing, entity. But since it’s nothing more than a collections of individuals who fail and succeed stupendously all the time, the very notion that as individuals we could all cease being productive for many years is not worth dignifying. And rather than a threat to the U.S. “economy”, the collapsed banks signaled the economy was on the mend for the markets purging non-economic practices from the banking system.
