Discovering Gravity

Lew Rockwell has another astoundingly good article . Here’s an excerpt:

The downturn is following a path so predictable, day by day, that people who comprehend the business cycle don’t even need to read the news. You can intuit what will happen next because it’s happening like a textbook case — even as it is reported with a continued sense of surprise.

Press reporting on the downturn has been like reports from a committee that knows nothing about gravity, but which has nonetheless been assigned to watch what happens when you drop objects from high places.

They keep filing surprised reports about how the objects fall — what a bizarre and unwelcome turn of events — and then they conjure up ways to keep this from happening through some outside intervention. They recommend bailouts, spending, programs, controls, and inflation.

And it just gets better:

Sadly, the political class cares nothing about facts and logic, so they barrel ahead with the cheers of the media to repeat all the mistakes of the past. The bottom line is that these people can create all the unemployment they want so long as they continue to try to “do something” about it.

Sad but true.


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