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Paying the Price For Keynesian Quackery

"The lifeboat itself will sink under the weight."

by
Dave Swindle

Bio

June 4, 2012 - 11:35 am

 

David P. “Spengler” Goldman today in a must-read post on the European economic collapse:

The Obama administration, George Soros, the International Monetary Fund, and liberal opinion in general believe that no crisis should be wasted: an enlightened supranational bureaucracy should emerge as the ruler of Europe.

I find this repulsive for the most elemental of reasons: the further that government is removed from the electorate, the more prone it is to abuse. The Brussels bureaucracy is responsible for the catastrophe in the first place, and one doesn’t normally give the gasoline monopoly to a bunch of arsonists.

As an old investment banker, though, I think that consolidating all the European scams into supranational entities will fail disastrously. The lifeboat itself will sink under the weight. Some of the scams are simply too outrageous to be rescued. The same Keynesian quackery that has kept the US in recession for the past four years festers among the Eurocrats.

image element courtesy shutterstock/Daniel Alvarez

David Swindle is the associate editor of PJ Media. He writes and edits articles and blog posts on politics, news, culture, religion, and entertainment. He edits the PJ Lifestyle section and the PJ columnists. Contact him at DaveSwindlePJM @ Gmail.com and follow him on Twitter @DaveSwindle. He has worked full-time as a writer, editor, blogger, and New Media troublemaker since 2009, at PJ Media since 2011. He graduated with a degree in English (creative writing emphasis) and political science from Ball State University in 2006. Previously he's also worked as a freelance writer for The Indianapolis Star and the film critic for WTHR.com. He lives in Los Angeles with his wife and their Siberian Husky puppy Maura.
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