Sunday, May 12, 2013

More Crazy


Fox attempts to fix its plunging ratings and look what happens.

AlterNet
Tea Partyers Boycott Fox News for Being Too “Left”
Jillian Rayfield | Salon.com

DS: "The new deal was a political gong show, not a golden era of enlightened economic policy. It shattered the foundation of sound money and inaugurated a régime of capricious fiscal and regulatory activism that inexorably fueled the growth of state power and the crony capitalism which thrives on it. But it did not end the Great Depression or save capitalism from the alleged shortcomings which led to the crash. In fact, the New Deal introduced a severe dose of economic nationalism and autarky at a time when the only hope for speedy recovery was a reopening of world trade and reestablishment of a stable international monetary régime.... in reality, the notion that the New Deal had pioneered a road map to recovery by means of countercyclical fiscal policy is mostly a postwar academic legend."
Zero Hedge
David Stockman On The New Deal Myths Of Recovery


1 comment:

Matt Franko said...

"postwar"

Hey Stockman: What happened fiscal-wise during the war?

Don't tell me: "That was war...."

Clueless.