Monday, June 28, 2010
Spending Our Way To Solvency
President Obama continues to beat the Keynesian drum of spending our way to solvency, with Paul Krugman no doubt cheering from the sidelines. At the G-2- conference this weekend, The One apparently hectored the Europeans to spend more while they seem more interested in reining in spending. Apparently our current economic torpor is the result of insufficient spending, at least according to the President and his buddy Dr. Krugman. Tis a sad day indeed when one looks to the other side of the Atlantic for wise and restrained fiscal discipline.
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5 comments:
That we need to look to Europe for such fiscal maturity is not so surprising. They've lived through years of policies that Obama (and his supporters) are just beginning to install. It's no surprise that those who emerge from (survive?) socialism and/or communism are some of the most patriotic supporters of what was once known world-wide as "the American Dream." The big surprise, to me at least, is that those who live under capitalist democracies so readily abandon it by turning their lives over to government officials and bureaucrats who would take the Founders' vision of a government that serves the people to a people who serve the government. As H.L. Mencken wrote: "The kind of man who wants the government to adopt and enforce his ideas is always the kind of man whose ideas are idiotic." A nation of idiots? Thanks a lot, NEA.
Why couldn't Keynes have confined his activities to hanging around tube station loos? He could have saved the world a lot of grief.
Yes, spend more Europe. You can see what a wonderful effect it's had on global markets.
Someone from the other side of the pond:
RBS tells clients to prepare for 'monster' money-printing by the Federal Reserve
Right Doc, they have to monetize the debt. With their hairbrained policies there is no way in Hades they can even service the debt, so they have to inflate the currency.
Listen, buy real estate as soon as you can. That $600,000 house with the $2500.00 monthly payment ain't gonna look so bad in five years when a Big Mac is 17 bucks.
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