"The Keynesian Corner", By Robert Murphy, Townhall.com
"The truly depressing feature of all the stimulus talk is that even someone as knowledgeable as Treasury Secretary Paulson believes a rebate is only good if the recipients “spend” it, rather than using it to pay down debts. Here we see the true insidiousness of the Keynesian mindset: In a time of recession, when we need to tighten our belts, the politicians encourage us to go buy new cars and plasma screen TVs. The idea seems to be that if we all just ignore the recession, it will get bored and go away."
PS: Treasury Secretary Henry Paulson - President's Working Group on Financial Markets.
No comments:
Post a Comment