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The government, led by the Fed and Treasury, is intervening massively to avoid a necessary correction. The implicit premise of its actions is that a correction would ruin us economically. It wouldn't. It would be painful for awhile, but market mechanisms would put the economy on a path to a sound recovery. Interventionism invariably begets more interventionism until the economy becomes a completely state-run bureacracy.
The fundamental issues of the financial crisis are money and banking. And the best primer I know of for understanding these issues is Murray Rothbard's What Has Government Done to Our Money?
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In addition, permit me to recommend my own work, The Flight of the Barbarous Relic, which treats the issues in fictional form.
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