Post Tagged with: "Keynesian borrowing"

December 11, 2012 04:45

1992 Prediction of America’s Death – Milton Friedman

“The most unresolved problem of the day is precisely the problem that concerned the founders of this nation: how to limit the scope and power of government. Tyranny, restrictions on human freedom, come primarily from governmental institutions that we ourselves set up.”

November 10, 2011 04:50

Christina Romer’s Toxic Cookbook

It is this weird combination of childlike belief in the simplicity of the problem (aggregate demand, lack of optimism) and the striking arrogance of the notion that the government can and should control the economy by simply pulling at the right strings hard enough that makes Romer’s article such an illustrative example of the intellectual dead end that is mainstream economics today.

September 29, 2011 09:15

Obama looks ridiculous as he lectures Europe while wrecking the US economy

It is rather ironic that Barack Obama, who has probably done more damage to the American economy that any president in modern US history, is now lecturing European leaders on their financial problems as well.

September 12, 2011 07:34

Half-educated economics graduates are leading us to ruin

You don’t see how governments can borrow their way out of debt? You’re just revealing your ignorance! You’ve had to cut back on your own spending, and you think the public sector ought to do the same? You know nothing about economics! You worry that we’re leaving our children with an unprecedented debt level? Go away and do GCSE history!

September 9, 2011 08:37

Why Bother Working?

Since we have yet to address the real cause of this recession, we are moving inexorably closer to causing The Greater Depression. If policymakers and mainstream economists fail to understand that the progenitor of a depression is debt and inflation, they will also be unable to provide a genuine solution. And the “solutions” they do offer are tantamount to seeking the avoidance of a hangover by forcing down a few more drinks.