Tag: financial system

economics

The crisis

Fred Thompson argues the solution is thrift – which exactly what the government is trying to prevent. Obviously he is right – and yet wrong, for one person’s savings have to be another person’s obligations. What we need is a financial system that mobilizes savings for sound investments – such as mortgages on reasonably priced houses secured by twenty percent down payments, mortgages on farmlands, mortgages on mines and oilfield …