The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

‘Aggregate Demand! Aggregate Demand!’

“I cry out to boost aggregate demand — by banking policy, by monetary policy, by fiscal policy, by spending increases, by tax cuts, by anything — I don’t care what!” — Brad DeLong The stimulus wasn’t big enough! That’s the sum of DeLong’s argument, which is frustrating to read because, on the one hand, DeLong […]

Shorter New York Times

PROFITS BAD! Making matters worse, businesses are already plowing fewer profits back into their own enterprises. Over the past decade and a half, corporations have been saving more and investing less in their own businesses. . . . The reason for all this saving in the United States is that public companies have become obsessed […]

Worst Side Effect of Recession? Endless Plague of Perpetual Grad Students

OK, this is a pet peeve of mine from way back. When I was in college in the late ’70s and early ’80s, there was a distinct group of hippie leftovers who hung around the campus pub a lot while, supposedly, working on their master’s degrees. They didn’t seem particularly smart or studious. Rather, they struck me as having fallen in love with the […]

Democrat Stimulus Drum Corps

The Dow Jones Industrial Average is down more than 700 points since June 21, having lost more than 1,500 points (13.6%) from its late April peak at 11,205. The Dow closed Friday below 9,700 — a level not seen since early October 2009 — and talk of a “double-dip recession” is now far more common than […]

Jimmie Bise Jr. Explains Why Economic Freedom Makes America Great

“Now, those of us who get the origin of wealth understand that prosperity only happens when people own the fruits of their labor. The principle that what you produce belongs to you and you have the absolute right to dispose of it as you wish is the cornerstone of all the wealth and wonders created […]

VIDEO: Nancy Pelosi, Genius

In which she explains that unemployment checks create jobs: “Now, let me say that unemployment insurance, we talk about it as a safety net and the rest — this is one of the biggest stimuluses [sic] to our economy. Economists will tell you, this money is spent quickly. It injects demand into the economy and […]

Obamanomics: Failure Is The New Success

by Smitty Heritage has a piece entitled: ‘Why Obamanomics Has Failed – Annotated’. Questions beginning with ‘Why’ being quite a Smitty-magnet, let’s see what these esteemed think-tankers are swimming in. They pick up with Meltzer at the WSJ: ‘Why Obamanomics Has Failed’. RTWT, but I’ll summarize here. . . .they want new stimulus measures—which is […]

Obamanomics: Still Not Working

As of 12:40 p.m. today, the Dow Jones Industrial Average is off more than 230 points, down below 9,900. This decline — about 2%, and roughly twice what the futures market had signaled overnight — is probably due to a sharp drop in consumer confidence. This is being interpreted as a strong indicator of a double-dip recession. Timely […]

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