Submitted by: Donald Hank
Stupid is really the only word for it.
I have said before that most Keynesian "economists" like most US politicians on both sides of the aisle and like the Fed, actually believe in this hocus pocus.
If Obama didn’t believe that spending on stimulus would work, he sure as heck wouldn't try this trick this close to elections.
Despite all you may have heard, he is not a bit intelligent.
It was all over CNBC this morning, among other places.
The common mantra: The way out of this problem is economic growth.
My blunt response:
Here’s the problem from a historical perspective, looking at GDP growth .vs. debt growth: