Thursday, July 23, 2009

Keynesian Disaster

"We are now in the early stages of a depression. The economic indicators we follow to track real economic activity are all signaling a slowdown of massive proportions. You wouldn’t know it reading the mainstream papers of course – they all focus on the relative decline in the slowdown’s intensity."

In short, the Obama-Pelosi-Reid Stimulus package that was passed, sight unseen, is an unmitigated Keynesian disaster: