This article from Slate does a very decent job at explaining how bad the economic situation is and will most likely remain so for the foreseeable future. Then near the end, the classic Keynesian slip, “That is not to say that there is nothing to be done, of course, or that the current state of affairs is inevitable. More stimulus or more aggressive monetary policy could help the economy, boosting employment and keeping the self-sustaining recovery going. But such measures are unlikely, given Congress’ concern with the debt ceiling and cutting spending [Emphasis mine].” Print more money? Great idea–bring on hyper-inflation!
Ignore progressives on economic matters and they can make a whole lot of sense, with Glenn Greenwald clearly being the best that I have found. In a recent commentary of his, “The Patriot Act and Bipartisanship,” he continues to remain consistent in his defense of civil liberties and non-partisan outing of hypocrisy while recognizing his […]
“Under democracy one party always devotes its chief energies to trying to prove that the other party is unfit to rule — and both commonly succeed, and are right.” ~H.L. Mencken