Obama Accused of Depression-Style Mistakes
Barack Obama is committing the same mistakes made by policymakers during the Great Depression, according to a new study endorsed by Nobel laureate James Buchanan.
His policies even have the potential to consign the US to a similar fate as Argentina, which suffered a painful and humiliating slide from first to Third World status last century, the paper says.
There are “troubling similarities” between the US President’s actions since taking office and those which in the 1930s sent the US and much of the world spiralling into the worst economic collapse in recorded history, says the new pamphlet, published by the Institute of Economic Affairs.
In particular, the authors, economists Charles Rowley of George Mason University and Nathanael Smith of the Locke Institute, claim that the White House’s plans to pour hundreds of billions of dollars of cash into the economy will undermine it in the long run. They say that by employing deficit spending and increased state intervention President Obama will ultimately hamper the long-term growth potential of the US economy and may risk delaying full economic recovery by several years.
Here’s the full article.
Hat tip: Telegraph (UK)
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His concern is for his agenda–and not for the consequences as long as he and his cohorts do not have to bear them.
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The utopias that all leftists relish, dream about, and push for are like flimsy, rainbow-like bubbles being blown in the sky. There is no reality or real framework about them, let alone consequences that INC referenced.
And, because they don’t think about worst-case scenarios, filtering them out with their rose-colored glasses you will get a soaring, passionate speech from Obama tonight cheering his groupies onward and upward to “centralized” everything!
I’ve been thinking about this all morning and am very worried.
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The utopias that all leftists relish are nothing but shared misery for the masses.
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Absolutely, Knova. But the left is wired not to notice (or care about) that little by-product of implementing their ideology on the masses.
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Scratch another idea of Obama’s that didn’t go well for the taxpayer!
Taxpayers unlikely to get GM and Chrysler investment back 24/7 Wall St.
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The elites on the left are hardwired not to notice. The non-elite leftist masses notice it, but are too numb to do anything about it.
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The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries
~~W CHURCHILL
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True words, ip!!
Although in capitalism, the vice is remediated as you will find those who are blessed voluntarily sharing their blessings.
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Nice quote, ip! Sometimes you can pack so much wisdom in just a couple of lines!
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Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy.
~~W CHURCHILL
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If HC passes everyone should start taking their vitamin supplements in an attempt to stay as healthy as possible. This Dick Morris article underlines the reasons to do so!
Doctor shortage will worsen health care impact Link
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Hey IP- I have sent you a few emails…..since I am not sure you are getting them, I forwarded them to my Dad for him to send to you. Look for those later today.
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THANK JM
JM is having a busy day
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JM, I just sent you an email. Have you seen it yet?
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I may have posted this earlier, but can’t find it now.
our future
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16, oddly we were one of the destinations such tourists came too. HC passes you can kiss that goodbye as well.
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The one that Madison let get away…
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INDEED