Paulson doesn't realize that his erratic attempts at creating liquidity are creating the uncertainty that makes liquidity meaningless.Hayek and Roberts deeply understood the opening lines of William Blake's Auguries of Innocence. Paulson does not. Here they are... probably my favorite four lines of poetry:
The great economist F.A. Hayek wrote that "the curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."
With each improvisation, Secretary Paulson is proving how little he knows about what he imagines he can design.
To see a world in a grain of sand
And a heaven in a wild flower,
Hold infinity in the palm of your hand
And eternity in an hour.