2. The prospects for inflation are not at all sure. It’s not clear that in a banking crisis there is a better substitute for loose money (QE) and deficit spending. It has to be made up later, one way or another.

3. The biggest problems tend to have a whiff of the unexpected. Perhaps a nuclear strike, a coup in Jordan, a failed state in Europe.

No they can’t afford and haven’t been able to provide what they sold to their people. This would be obvious to you if you would spend just a smidgen of your day actually researching using something other than DU or Daily Kos for your info. Or possibly you only watch Obese Moore’s agitprop?

“Cap-and-trade is a regulatory framework you idiot. It doesn’t cost anything. “

Telling a partial truth is still a lie. Obama himself has said that the cost of energy to the average homeowner will rise immensely with the implementation of Cap and Trade. The deficit will grow because the largest purchaser of energy in the U.S. IS the GOVT.

“Are you kidding? Do you know how deflation happens? Do you even know what the zero bound is? Do you know anything about monetary policy at all? Wow.”

This is pure garbage. Incoherent blather. It brings out your immaturity and lack of experience outside of a econ 101 class

“blah, blah, blah. This makes no sense. Obama has always said that terrorists are evil extremists, and we have done an exceptional job of fighting them under his watch. You are lying.”

Spoken by the “True Believer” and the whole reason he posted a comment. And he has done nothing but dither. He has obstructed his hand picked General. He has reduced spending on needed material and troop replenishment through Sec. Gates. Yet he takes a photo op hop to Delaware so he can get his bonafides. Sad. One day hopefully you will have an epiphany and it will be in time to save those precious to you. I know it is hard for you to see outside the cult of Obama. But try if you can. I suggest you start with “The Gulag Archipelago” by A.S.”

When you create a system that is kept simple, cemented in concrete and time tested, you have a safe, prosperous and predictable society. No heartburns and no hickups. But then again, liberals and progressives by nature are shifty, hyperactive and never leave things well enough alone.

Victor Hanson is merely pointing to us the lessons of history of states and governments that failed miserably undergoing what we are experiencing today.

I learned from my parents growing up in the early 60′s: 1) Idle hands are the workshop of the devil (nowadays represented by politicians), 2) Learn to labor and to wait (Congress could not wait and leave the economic systems alone to sound fundamentals), 3) Delayed gratificaion is a sign of maturity (again – Congress and politicians).

Our politicians are not leaders because a true leader DOES NO HARM. They are quacks just like doctors who harm their patients.

Solutions: 1) Pass a US Constitution balanced budget amendment with a ceiling of 10% total national tax on GDP, 2) Term limits of 2 on all US Congress and Senators – this mitigates or eliminates the Kennedy’s, Byrds, Thurmonds from becoming multi-elected Princes of Congress. After all, a pol who is elected all the time will think and act like nobility – power corrupts the mind and soul absolutely.

The Man of Sin has a precursor. The False Prophet. If you look closely the FP is the front man, the minister of propaganda. Hitler’s Himler. The FP is the head of whatever nation contains the city ‘Babylon’ which is destroyed “in one hour” by the ten nation consortium of the Anti-Christ. hmmmmmmmmmmmmm