Obama and the leftists don't get it. The more government gets involved in the economy, the more dependent people become on government, and the weaker becomes the private economy. That is what is happening now, and will continue to happen as long as anti-capitalist leftists are running Washington.
As I have been writing for years, the left is in love with the Depression and its imagery. They were therefore determined to recreate it by crashing the economy. Then they could be the "government to the rescue" types they have dreamed about. FDR envy is at the center of the Obama administration.
I am an empiricist, and there is a big difference between an ideologue and an empiricist.
An ideologue, like Obama, believes what he believes with religious fervor, in spite of the facts. The belief stems from a sense of "how things should be" rather than an understanding of how they are.
Therefore, Obama can continue to argue for Keynesian stimulus because it might cause a temporary blip in GDP, without any thought about the long-term consequences of the other side of the balance sheet, the debt that must be taken to support the Keynesian stimulus.
An empiricist, alternatively, observes the functioning of the world and develops opinions based on observation of reality. This is a scientific approach to developing theories and policies.
Continue reading the full article at High Plains Pundit.
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