Why Not Let the Whole Banking System Collapse?

But wait a minute, said a fellow diner: ‘I’m an economist…we couldn’t let the whole banking system collapse.’

“Why not?” we asked.

‘Because unemployment would go up to 14% or more…’

“How do you know what the proper rate of employment should be?” we wanted to know.

‘But you can’t just ignore people when they are out of work…and you can’t ignore an economy when it goes into a depression, can you?’

“Why not?” we repeated our first question.

What we notice in our brush with America’s intellectual and political elite is that they are very smart, very well informed, but too busy to stop and think.

Obstructing, hindering, inhibiting, restricting and otherwise interfering with the economy by inept, bungling, incompetent "economists" is in their DNA, I suppose.