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Wednesday, July 01, 2009

Central planning doesn't work. Let's try central planning!

Now we know; central economic planning doesn’t work. Everywhere it was tried it was a disaster. The more the bureaucrats planned, the bigger the mess they made. But now we are supposed to believe that central financial planning will save the world from the mistakes of the bubble era. That is the grand illusion waiting to be toppled. What fun it will be to see it come down!
--from "Die Hard Illusions" by Bill Bonner

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