Robert Higgs, Senior Fellow at the Independent Institute, editor of the Independent Review and author of Depression, War and Cold War, discusses the many factors working against a “V” shaped economic recovery, mainstream economists who don’t account for the malinvestment of government stimulus funds, shortsighted economic planning that is focused on election cycles instead of the business cycle, huge bank reserves that could cause inflation if ever lent out and why specific economic predictions are incredibly difficult to get right.
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