PJ Media

"A more cool-headed assessment of the economy's woes might produce better policies."

Bradley R. Schiller, author of a href=”http://www.amazon.com/gp/product/0073511269?ie=UTF8tag=wwwviolentkicomlinkCode=as2camp=1789creative=9325creativeASIN=0073511269″emThe Economy Today/em/aimg src=”http://www.assoc-amazon.com/e/ir?t=wwwviolentkicoml=as2o=1a=0073511269″ width=”1″ height=”1″ border=”0″ alt=”” style=”border:none !important; margin:0px !important;” / has an interesting a href=”http://online.wsj.com/article/SB123457303244386495.html”piece in the emWSJ/em/a entitled, “Obama’s Rhetoric is the Real ‘Catastrophe.'” Mr. Schiller compares this recession with the Great Depression and finds that our economic woes don’t come close to the 1930s. He states:br /br /blockquoteMr. Obama’s analogies to the Great Depression are not only historically inaccurate, they’re also dangerous. Repeated warnings from the White House about a coming economic apocalypse aren’t likely to raise consumer and investor expectations for the future. In fact, they have contributed to the continuing decline in consumer confidence that is restraining a spending pickup. Beyond that, fearmongering can trigger a political stampede to embrace a “recovery” package that delivers a lot less than it promises. A more cool-headed assessment of the economy’s woes might produce better policies./blockquotebr /br /But would better policies pay off the supporters who voted for him?