Anticipatory Revisionist History
Right now in some of the most important right-wing think tanks of the country, well-paid hacks are churning out definitive histories of the current crash. Obviously, market forces are part of the solution rather than the problem. We can agree with many of them that the Federal Reserve played a role.
This work follows in a long tradition. For example, their forefathers already figured out that the Smoot-Hawley tariff caused the Great Depression.
We know how innovative this school of thought can be. They’ve already figured out that government mandates to lend to poor people caused the subprime crisis.
Surely, excessive taxes will be part of the story, but I can’t figure out how they will spin that.
What other kinds of regulations and interference with the market is responsible for the debacle?