Meanwhile, the U.S. and Britain are still deeply mired in recession, having acquired a vast amount of new government debt to no constructive purpose. No amount of juggling with unemployment figures can obscure the fact that in both countries real jobs are still being lost and that the creation of phony government ones is not altering the drop in family incomes. . . .But before we deal with these minor details, let’s be sure to get wrapped around the axle over the completely extraneous issue of health care. And let’s not create a business-friendly atmosphere, say, by cutting corporate tax rates and increasing domestic energy supplies. No! Let’s screw with business.
* * * *
One of the great modern myths taught in some university economics departments is that government treasuries can be run in a fundamentally different way from the finances of private families. This mythology includes the belief that adding to public debt is a form of investment and that spending the taxpayers' money on a colossal scale and in a wanton manner may have positive economic virtues.
And when we’re done with that, let’s be sure to bring up legislation -- “comprehensive” legislation, have no fear -- that will grant instant citizenship and a free medical school education to illegal immigrants.
Our workers will be back on the job, wages rising, and the economy humming before you can say “bad national acid trip.”
"There Is No Keynesian Miracle." By Paul Johnson, Forbes.com, 2/12/10?
2 comments:
Interesting blog by the way.
Some how I feel we are past the tipping point concerning demographics for example the English under 40s will be a minority in their own country by 2030 and a minority in a Muslim country as well, not a nice position to find ones self is it.
I think the penny will only drop when their Giros bonce.
Thanks for your kind words. Sorry for the delay in acknowledging. I set my email notification to a seldom-checked account and notice of your comment got parked there unseen.
I have to agree about the demographics. Nothing that couldn't be instantly turned around if the American Voters Formerly Known as Citizens were ever to wake up. That's the real problem. Americans decided to give it all away.
Odd that.
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