US Fed: Postponing the Necessary

Published in Mint on Jan 25, 2008

Explains not only why the rate-cuts will not prevent a Recession, but also as to why the Fed should not even be trying to prevent a Recession.

US has to transform itself from an Economy that borrows for consumption to one that saves for production. & there is no way that such a transition can be effected without a deep and painful Recession. That's just the price that US has to pay for decades of their consumption binge.