A common fallacy is that the Great Depression was ended by the explosive spending of World War II. But World War II actually institutionalized the sharp decline in the standard of living caused by the Depression.
Tagged: keynesian economics
Did Janet Yellen,
(1) see any problem in the housing bubble,
(2) anticipate the bursting of the housing bubble; and,
(3) anticipate its implications for the U.S. economy?
The answers are (1) no, (2) no, and (3) no.
No President in modern U. S. history has more self-consciously evoked the images of his predecessors than the incumbent, Barack Obama. When the first-term Senator in 2007 formally announced his[...]
In “Paul Krugman and Detroit, Part 1” I discussed the New York Times columnist’s failure to understand why Detroit currently resembles the United States in Atlas Shrugged. But Krugman’s error[...]
The other day I came across a good review of Edmund Contoski’s latest book, The Impending Monetary Revolution, The Dollar and Gold, at Feathered Quill Book Reviews. An excerpt from that[...]
Ongoing effective economic experiments among the 50 states are sharpening, and definitive results will pour out in the real world, editorial and opinion fallacies to the contrary notwithstanding. That sharpening[...]
President Barack Obama released his 2014 budget proposal, which would spend $3.8 trillion. The budget contains a tax hike of some $800 billion, including a requirement that “millionaires” pay at[...]
President Obama told America the morning of February 19 that if the sequester goes through on March 1: “It will eviscerate job-creating investments in education and energy and medical research….[...]
President Reagan famously said “Government is not the answer to the problem. Government IS the problem.” But keeping with his unwavering theme as the unrelenting opposite of Reagan in every[...]
Some members of Congress, along with the always entertaining New York Times columnist and economist Paul Krugman, have proposed creating a $1 trillion coin to solve the federal government’s debt[...]
[First posted at Forbes.] The most shocking statement in the entire Obama/Romney debate earlier this week was this from President Obama: “You know a major difference in this campaign is[...]
(First published at Forbes.com.) President Obama has led America into an accelerating downward spiral. Destination: Argentina. Last Friday’s calamitous jobs report was just a signpost on the way. Argentina enjoyed the world’s fourth highest per capita[...]
I’ve seen Bill Gross and some of his underlings interviewed on TV a few times and have read newspaper interviews with them and published comments from their company, Pacific Investment[...]