While sitting in my allergy doctor’s waiting room today Dub-Yuh appeared on the flat-screen TV, being interviewed by Neil Cavuto of Faux News. When Cavuto asked him about the “sub-prime” mortgage market meltdown Dub-Yuh said, “We’re suffering from an excess of capital, I mean, liquidity.”
Huh? Could it be? Has Dub-Yuh broken his habit of never reading anything, even the newspapers, and picked up a copy of America’s Great Depression by Murray Rothbard for his summer vacation reading?
The Austrian School of Economics is known for its boom-and-bust theory of the business cycle, where central bank monetary expansion initiates the boom, which is inevitably followed by a bust. Could it be that Dub-Yuh actually understands this? Naaaaah. Must have been an accidental combination of words that he picked up from his debriefers.
