This column, in the apparent name of pro-Republican partisanship, shows a profound lack of insight into what’s afoot in economic terms.
1. The foundational problem is fiat currency and economies based on the “stimulus” of more such paper currency to whip the flagging paper economy into yet higher levels of addiction. Whenever things lack “growth” Wall Street demands another infusion of invented money and off to the races we go again. The Fed, caving to this addiction, is now only 3% above where Japan ended up a long time ago. We know how that turned out.
2. Not surprisingly, the current global credit crisis is literally the last 40 years of bogus fiscal policy crashing. You can’t keep shooting up, expecting that the next hit will make it all better.
3. Government made the depression of the twenties worse. “Conservatives” calling on government to dick around with the economy is the height of liberal thinking. It’s madness.
4. This is now a Keynesian economy. hardly the model of sanity, responsibility, and sustainability. It’s a far cry from conservatism.
It’s a tragedy economic neo-conservatives believe in pumping up bubbles in the name of indefinite “growth”. First tech, then housing, now alternative energy (seen Obama’s platform lately?) That is simply not a conservative principle, not in the age of exploding $9T debts and tanking fiat-currency economies.
