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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: CalculatedRisk	12/11/2006 12:23:54 AM
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WSJ: Five Macroeconomic Myths By Edward C. Prescott online.wsj.com The sky is not falling. No need to panic and start playing around with all sorts of policy responses. Despite the impression created by some economic pundits, the U.S. economy is not a delicate little machine that needs to be fine-tuned with exact precision by benevolent policymakers to keep from breaking down. Rather, it is large and complex, with millions of people making billions of decisions every day to improve their lives, the lives of their families and the health of their businesses.

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