Lew Rockwell believes the current economic downturn is "good news."

His analysis is pretty right on from where I sit. Artificially induced economic bubbles burst. It's helpful when this happens to, first, not repeat the dysfunction, that is, don't re-inflate and re-regulate the conditions prior to the bubble bursting. Instead, seek means to avoid future bubbles.

To call the current economic jitters "good," though, seems tin-eared. The economic "patient" is sick, it needs to heal, which takes time. More of the same government "solutions" are indeed contra-indicated, and tend to exacerbate and extend the sickness.

Two million foreclosures is not "good," as I see it. It's an excellent way to alienate the foreclosed and those on the edge of foreclosure.

-RC