The “Best and Brightest”

Thursday 14 April 2011 - Filed under Economy + Europe + Government + Regulation + Stimulus

Via The Guardian concerning budgetocalypse:

Some economists and political scientists also raise what they see as the danger of Republican cuts slowing or even reversing America’s climb out off recession. Thomas Ferguson, professor of politics at the University of Massachusetts, said there was a danger of repeating the mistakes of the Great Depression by chopping spending.^[1] “The US would surely take a rather large plunge. They will get Ireland and Greece outcomes. You will crater the US economy if you were to enact the [Republican] bill,” he said. (Emphasis added)

So if we cut spending, what happened to Greece and Ireland and Portugal (and soon to be Italy) as a result of their refusal to cut spending will happen here?

What kind of a fucking world do we live in where the “best and brightest” look at real world actions with real world results (gross overspending by various international governments and their singular shared result of defaulting on their loans and having to seek assistance from other governments and financial institutions, all while throwing their respective economies in to chaos), yet conclude that if we do the exact opposite, the same thing will happen? How fucking intellectually dishonest does one need to be in order to come up with this “argument”?

What a fucking hack.

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1. You mean the mistakes that actually turned out to be government overspending and over-regulation?

2011-04-14  »  madlibertarianguy