Shawn Ritenour who teaches economics at Grove City College said:
Unfortunately for the American public, sound economics teaches that, regardless of how fast the money is spent or how much oversight is provided by bureaucrats, the money doled out by the stimulus plan will be wasted and will have a detrimental impact on the economy in the long term, because that is the nature of profligate government spending....
From an economic perspective, Obama's stimulus plan is equivalent to a giant welfare scheme. Instead of the money going to lower income Americans, however, it is meant to go to municipal bureaucrats of various stripes. Instead of productive American citizens determining what to do with their own scarce resources, the state is stepping in and dictating how they will be used. Consequently, such spending is essentially government consumption, which is what vulgar Keynesians think we need now more than ever. Such economists are shocked — shocked! — to find out that Americans are now saving any increases in income instead of blowing it on even more consumer goods.
When Stimulus Does Not Stimulate
Professor Ritenour's op-ed might prove interesting in light of recent admissions the earlier stimulus failed to work and the talk of a possible new one. BTW: for the record, what Obama is doing economically is not all that much different from what McCain would have done. Benacke and the House of Goldman Sachs is running the economy and has been so why would the other political party make any difference? Also if you give just a moments thought to the whole economic process, you'll quickly realize that democrats believe in "trickle down economics" to, they just do a better spin job at hiding it.
And speaking of friend Ups and economic chaos, we'd be amiss to not mention the housing crisis and how this has all played into this chaos. In Dale Steinreich's
75 Years of Housing Fascism Dale takes a historical trip down memory lane and I can understand on the front end how some would be upset as seeing this as turning over their political apple cart and that's true enough but open the mind and look a bit closer. Does this picture start to come into play a little better.
Wall Street and Wall Street banking interests killing various means of competition using their gov't access and control of legislation/regulation process? Between the S&L's, Credit Unions, small and mid-sized banks and various mortgages business', the Wall Street banking cartel/monopoly has done a pretty good job over the last several decades of
"making themselves to big to fail" while the other players in the game are forced to fade away or by regulation barred from entering the market as competition so the "to big to fail" aren't exposed to potential losses. In the noble drive to protect the common good, we literally threw ourselves right into their own briar patch?
The worse part about big gov't is the naivete that the common man controls it and that this mechanism will keep evil at bay.
You are the poor mouse, and the unseen hand holding your tail is gov't and who is the hand feeding?
Rattlesnake feeding-C.m.nigrescens
True free markets don't use force or fraud (that's called theft) and never require a hidden hand to benefit. If is does, it's not true free markets, hence the term "FREE" and it's got nothing to do with the price.
which is also another requirement in being a true free market.
-head we have for a leader.
