Word: feds
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...Fed's way of saying, in terms that are hardly subtle, that if its programs to improve the credit markets, the Treasury's plans to help banks and the auto companies, and the Administration's budget and stimulus package works, then the American economy will walk away from the worst recession in memory. It is a preposterous statement which implies that, left alone, the financial health of the country would be in ruins. The sole salvation of the production, housing, and employment sectors of the United States rests in very few hands, all of them in Washington. (See pictures...
...other side of the statement of the Fed is a prospect which, far from being immodest, should cause every intelligent person in the country to shudder. If the great engineers of the plans to return the economy to health are wrong, the result will be a ship wreck, a catastrophe so large that it cannot be contained, no matter how much money the government is willing to invest...
...vanity of the Fed, the Treasury, and those building the budget in Congress and the Administration is not that they refuse to doubt that the fruits of their work will remake the economy; It is that they will not admit that the economy has even the smallest chance of remaking itself. That, in a phrase, is what is at the heart of the debate over how the recession will end and why. (See pictures of the Top 10 scared traders...
...People who believed in the power of institutions like the Fed and Treasury will lose their faith and become embittered as time passes and the economy does not show signs of substantial improvement. That is a shame because it means that they will have needlessly turned their back on the concept that there is power in self-sufficiency...
Instructive, but we're still talking about burgers. What makes the Snyders' story worth reading is that it's as much cultural history as corporate. The company evolved in perfect sync with postwar Southern California, whose car culture and highway-fed suburbs blossomed as In-N-Out was building the first drive-throughs...