Promises We Cannot Keep

In his debut for the ISLO Robert Nielsen goes through the bizarre and tragic nature of the recent “deal” on the Promissory Notes. Robert blogs over here normally. 

Whenever discussing the banks people often preface their comments by saying that they don’t know much about economics. It is assumed that the bank bailout only seems absurd due to a lack of economic knowledge, that in actual fact the government is following well-established economic principles. As an economics student, let me tell you that nothing is further from the truth. There is no economic logic or theory behind the government’s