Tuesday, August 18, 2009
No time for blind ideology!
Yesterday on Fox I got into a heated discussion with one of the panelists about government spending and its contribution to the economy. This particular panelist insited that government spending and investment (which is the second largest component of GDP), takes away from economic output.
This, to me, was almost a scary example of blind adherence to a belief system. I cannot even think of anything that comes close.
It's one thing to say that you are philosophically opposed to government involvement in the economy or, that you'd prefer if all output and employment were a result of the private sector's activities.
However, to state as if it is fact that removing nearly $4 trillion in spending and investment from the economy makes everyone better off is like saying that if you remove your heart ande lungs from your body, you'd be a superior athlete.
This is blind ideology, period. It is extremely detrimental.
People should insist upon rational, informed, discussion from the news media. This is no time for blind ideology.
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and the stimulus has not been applied.
why did you not mention china's stimulus and the ECB's with respect to China / France / Germany's "rebound" ?
China is now putting out signals that the US stimulus bad.
Evidently they don't want us to stimulus because they are aggressively trying to leave us in the dust.
You should take the perspective sometimes that 'CHINA DOES NOT WANT THE USA TO STIMULATE AND SPEND, BECAUSE CHINA WANTS TO TAKE THE LEAD'
same with the "crass" krauts from Germany
finally - tax payer on the hook - can you say Iraq Vietnam ?
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