The View From 1776

President Obama’s Cure For The Great Recession

Raise taxes and jack up energy costs.

Will he ignore results in the UK of his policies applied there?


UK faces green agenda backlash as energy prices rise


Green targets ‘could force companies to leave Britain’

Posted by .(JavaScript must be enabled to view this email address) on 08/02 at 11:22 PM
  1. Oresident Obama, the ultimate poster boy for the now thoroughly discredited Keynsian economic theory, has predictably moved on to embrace the faddish climate change dogmas. Thus he exemplifies a number of the follies detailed in "The Madness of Crowds."

    Posted by bill greene  on  08/03  at  09:25 AM
  2. UK is a poster for how not to get out of a recession. The conservatives have invoked austerity and have discovered that the opposite of what they had predicted has occurred.

    The same idiocy is occurring in this country. The moment when we need to get the engine of this economy moving again, the conservatives are focusing on the deficit - which will, in all probability, sent us back into recession or depression.

    And I am sorry, but no, Bill, Keynes has not been discredited - except in the minds of the Tea Partyiers. Almost any economist you ask will tell you that cutting spending in a recession will deepen the recession.
    Posted by .(JavaScript must be enabled to view this email address)  on  08/03  at  12:46 PM
  3. Mr. Jay, it's true that most Keynesian economists will voice support for their secular religious mythology. But that proves nothing other than their religious fidelity.

    As I note in Government Spending, The Welfare State, and Economic Recovery:

    http://www.thomasbrewton.com/index.php/weblog/government_spending_the_welfare_state_and_economic_recovery/


    First, no Federal intervention during recessions was needed, from 1776 until 1922, a period during which the United States grew to become the greatest economic power on earth.
    Posted by .(JavaScript must be enabled to view this email address)  on  08/03  at  09:32 PM
  4. Jay--you write that "Almost any economist you ask will tell you that cutting spending in a recession will deepen the recession."

    But what Obama has done the last two years was to vastly increase spending and that was accompanied by a deepening recession and an escalation of deficits, the national debt, and a loss of confidence among the business community. That we know.

    Whether a decrease in spending would hurt the economy is just a theory, a theory as Mr Brewton documents that is very questionable.

    As Ronald Reagan told us, the government is not the solution; it is the problem!
    Posted by bill greene  on  08/03  at  11:00 PM
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