Stephen Kinsella on Economics

Stephen Kinsella on Economics

Turkey’s economy got out of control because politicians, desperate to hold onto power, used the levers of power to purchase an electoral victory, and the economy overheated from an excess of credit. We know exactly what that feels like.

‘The large print giveth, the small print taketh away,” sang Tom Waits in 1976. He wasn’t wrong. You might spend your summer thinking about sunshine and ice-cream and happiness. I have it on good authority (okay, mine, I just made it up) that the boffins at the Department of Finance hate sunlight, disdain ice-cream, and have never been happy, except the day after Budget day, and that doesn’t count because it’s basically Christmas for economic wonks.

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