Friday, October 14, 2011

Rabbit-Hole Economics

All the ways the Republican economics narrative is dead wrong.
This recession was caused by too little effective regulation, not too much.
The bad loans were made by the private sector, not the government.
Ben Bernanke has done too little to end the recession, nothing to cause it.
Deliberate inflation could be a remedy for recessions like this, not continued deflation.
Tax cuts didn't work during the Bush era, they won't work now either.

It’s a terrible thing when an individual loses his or her grip on reality. But it’s much worse when the same thing happens to a whole political party, one that already has the power to block anything the president proposes — and which may soon control the whole government.

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